FX.co ★ Technical analysis of GBP/USD for August 1, 2018

GBP/USD remains trapped inside the downward sloping wedge pattern. The price got rejected at 1.32 and did not make it happen. Bulls will need to reclaim at least 1.32 for a chance for this pair to move much higher.

Blue lines - wedge pattern

Red lines - RSI triangle pattern

The price remains inside the downward sloping channel. The trend remains bearish. Price could make a new lower low towards 1.28. Short-term support is at 1.30, so a break below it will be a bearish sign. On the other hand, 1.3150 and 1,32 are my resistance levels to watch out for.