GBPUSD Daily Analysis – July 10, 2019

GBPUSD extended its downside movement from 1.2783 to as low as 1.2439. 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 1.2400 area. Key resistance is now at 1.2539, only break above this level could signal completion of the downtrend.

GBPUSD 4-hour chart