GBPUSD Daily Analysis – July 2, 2019

GBPUSD extended its downside movement from 1.2783 to as low as 1.2631. As long as the price is below the falling trend line on the 4-hour chart, the downside movement could be expected to continue and next target would be at 1.2550 area. Only a clear break above the trend line resistance could signal completion of the downtrend.

GBPUSD 4-hour chart