GBPUSD Daily Analysis – July 16, 2019

GBPUSD remains in the uptrend from 1.2439, the pullback from 1.2578 is likely corrective consolidation for the uptrend. Another rise could be expected after the consolidation and next target would be at 1.2700 area. Near term support is at 1.2500, only break below this level could trigger another downside movement towards 1.2400.

GBPUSD 4-hour chart