GBPUSD Daily Analysis – June 9, 2017

A sharp drop had taken the GBPUSD pair to 1.2700 area, indicting that the pair is now in downtrend from 1.3047. Further decline could be expected over the next several days, and next target would be at around 1.2600. Near term resistance is at 1.2850, as long as this level holds, the downtrend will continue.

GBPUSD 4-hour chart