GBPUSD Daily Analysis – August 3, 2020

GBPUSD remains in the uptrend from 1.2479, the pullback from 1.3169 is likely consolidation for the uptrend. As long as the price is above the rising trend line on the 4-hour chart, the upside movement could be expected to continue and next target would be at 1.3300 area. Support is at the trend line, only break below the trend line support could signal completion of the uptrend.

GBPUSD 4-hour chart