GBPUSD Daily Analysis – July 23, 2019

GBPUSD moved sideways in a trading range between 1.2381 and 1.2578. As long as 1.2578 resistance holds, the sideways movement could be treated as consolidation for the downtrend from 1.2783, further decline towards 1.2300 is still possible. Only break above 1.2578 resistance could signal completion of the downtrend.

GBPUSD 4-hour chart