GBPUSD Weekly Analysis – May 19, 2019

GBPUSD dropped sharply from 1.3176 to as low as 1.2713. Further decline is still possible after a minor consolidation and next target would be at 1.2500 area. Resistance is at 1.2790, a break of this level could bring the price back towards the bearish trend line on the daily chart.

GBPUSD daily chart