GBPUSD Daily Analysis – August 2, 2019

GBPUSD remains in the downtrend from 1.2578, the bounce from 1.2077 is likely consolidation for the downtrend. As long as 1.2249 resistance holds, the downtrend could be expected to continue and next target would be at 1.2000 area, only break above 1.2249 resistance could signal completion of the downtrend.

GBPUSD 4-hour chart