GBPUSD Daily Analysis – August 29, 2019

GBPUSD broke below the rising trend line on the 4-hour chart, suggesting that the short term uptrend from 1.2014 had completed at 1.2309 already. Deeper decline could be expected in the coming days and next target would be at 1.2060, followed by 1.2000. Resistance is at 1.2250, above this level could trigger another rise towards 1.2400.

GBPUSD 4-hour chart