GBPUSD Weekly Analysis – May 4, 2019

GBPUSD broke above the falling trend line on the daily chart, suggesting that the downside movement from 1.3381 had completed at 1.2865 already. Further rally could be expected and next target would be at 1.3381 resistance. Near term support is at 1.3030, a breakdown below this level could trigger another fall towards 1.2600.

GBPUSD daily chart