GBPUSD Daily Analysis – August 15, 2019

GBPUSD continued its sideways movement in a trading range between 1.2014 and 1.2106. The price action in the range is likely consolidation for the downtrend from 1.2578, further decline to 1.1950 area is still possible after the consolidation. Only break above 1.2106 resistance could bring the price back towards 1.2250.

GBPUSD 4-hour chart