GBPUSD Daily Analysis – August 1, 2019

GBPUSD’s downside movement from 1.2578 extended to as low as 1.2100. As long as 1.2249 resistance holds, the downtrend could be expected to continue and next target would be at 1.2050 area, only break above 1.2249 resistance could signal completion of the downtrend.

GBPUSD 4-hour chart