GBPUSD Daily Analysis – August 10, 2020

GBPUSD remains in the uptrend from 1.2251 (Jun 29 low), the price action from 1.3169 is likely consolidation for the uptrend. As long as 1.2980 support holds, the upside movement could be expected to continue and next target would be at 1.3300 area. On the downside, a breakdown below 1.2980 support would indicate that the upside movement is complete, then the pair would find next support at around 1.2850.

GBPUSD 4-hour chart