GBPUSD Daily Analysis – July 26, 2019

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

GBPUSD 4-hour chart