GBPUSD Daily Analysis – August 5, 2019

GBPUSD moved sideways in a trading range between 1.2077 and 1.2249. As long as 1.2249 resistance holds, the sideways movement could be treated as consolidation for the downtrend from 1.2578, further decline towards 1.2000 area is still possible after the consolidation.

GBPUSD 4-hour chart