GBPUSD Daily Analysis – July 31, 2019

GBPUSD extended its downside movement from 1.2578 to as low as 1.2119. Further decline is still possible after a minor consolidation and next target would be at 1.2050 area. Resistance is at 1.2260, only break above this level could signal completion of the downtrend.

GBPUSD 4-hour chart