GBPUSD Daily Analysis – July 3, 2019

GBPUSD’s downside movement from 1.2783 extended to as low as 1.2583. Further decline is still possible after a minor consolidation and next target would be at 1.2500 area. Near term resistance is at 1.1620, a break of this level could bring the price back towards the falling trend line on the 4-hour chart.

GBPUSD 4-hour chart