FX.co ★ Technical analysis of GBP/USD for July 30, 2014

Technical outlook and chart setups:

1. The GBP/USD pair looks to have done its first downswing around 1.6930 levels and should be looking to pullback in a corrective manner. However, a push below 1.6900 could trigger fresh bearish moves into the 1.6700's.

2. Support is seen at 1.6900, followed by 1.6700/20 while resistance is seen at 1.7090/1.7100, followed by 1.7190 respectively.

3. The structure indicates that GBP/USD could be sold on rallies towards 1.7090 levels in the sessions to come.

Trading recommendations:

Prepare to sell around 1.7090 levels, stop 1.7200, the target is open.

Good luck!