GBPUSD Daily Analysis – June 13, 2019

GBPUSD failed to break above 1.2762 resistance and moved sideways in a trading range between 1.2652 and 1.2762. As long as 1.2652 support holds, the sideways movement could be treated as consolidation for the uptrend from 1.2558, further rise towards 1.2800 area is still possible after the consolidation. On the downside, a breakdown below 1.2652 support would confirm that the upside movement had completed at 1.2762 already, then further decline towards 1.2558 previous low could be seen.

GBPUSD 4-hour chart