GBPUSD Daily Analysis – August 23, 2019

GBPUSD broke above 1.2249 resistance, suggesting that the downside movement from 1.2578 had completed at 1.2014 already. Further rally would likely be seen in a couple of days and next target would be at 1.2350 area. Near term support is at 1.2200, below this level could trigger another fall towards 1.2000.

GBPUSD 4-hour chart