GBPUSD Daily Analysis – September 10, 2018

GBPUSD failed to break above 1.3043 resistance and stayed in a trading range between 1.2785 and 1.3043. Another fall towards 1.2785 support would likely be seen in the coming days. As long as this level holds, the price action in the range could be treated as consolidation for the uptrend from 1.2661 and a breakout of 1.3043 resistance could take the price to 1.3200 area. On the downside, a breakdown below 1.2785 support would confirm that the uptrend had completed at 1.3043 already, then deeper decline towards 1.2661 support could be seen.

GBPUSD 4-hour chart