GBPUSD Daily Analysis – July 17, 2019

GBPUSD broke below 1.2439 support, suggesting that the downside movement from 1.2783 has resumed. Further decline could be expected over the next several days and next target would be at 1.2350 area. Near term resistance is at 1.2450, above this level could bring the price back to 1.2535 area.

GBPUSD 4-hour chart