GBPUSD Daily Analysis – August 13, 2020

GBPUSD is facing 1.2980 support, a breakdown below this level would indicate that the upside movement from 1.2251 (Jun 29 low) had completed at 1.3185 already, then the pair would find next support level at around 1.2850, followed by 1.2760. On the upside, as long as 1.2980 support holds, the sideways movement in the trading range between 1.2980 and 1.3185 could be treated as consolidation for the uptrend, and another rise towards 1.3300 could be expected after the consolidation.

GBPUSD 4-hour chart