GBPUSD Daily Analysis – June 5, 2017

GBPUSD remains in downtrend from 1.3047, the bounce from 1.2769 could be treated as consolidation of the downtrend. Near term resistance is at the ascending trend line on the 4-hour chart now at around 1.2935. As long as the trend line resistance holds, the downtrend could be expected to resume, and further decline towards 1.2700 is still possible.

GBPUSD 4-hour chart