GBPUSD Daily Analysis – July 5, 2019

GBPUSD stays in a falling price channel on the 4-hour chart and remains in the downtrend from 1.2783. As long as the channel resistance holds, the downside movement could be expected to continue and next target would be at 1.2500 area. Only a clear break above the channel resistance could signal completion of the downtrend.

GBPUSD 4-hour chart