GBPUSD Weekly Analysis – May 11, 2019

GBPUSD remains in the downtrend from 1.3381, the bounce from 1.2865 is likely corrective consolidation for the downtrend. Further decline would likely be seen after the consolidation and next target would be at 1.2600 area. Resistance is at 1.3176, only break above this level could trigger another rise towards 1.3500.

GBPUSD daily chart