GBPUSD Daily Analysis – June 21, 2017

GBPUSD broke below 1.2634 support, indicating that the downtrend from 1.3047 has resumed. Further decline could be expected over the next several days and next target would be at 1.2500 area. Near term resistance is at the bearish trend line on its 4-hour chart, as long as the pair is below the trend line, the downtrend will continue.

GBPUSD 4-hour chart