GBPUSD Daily Analysis – May 10, 2018

GBPUSD broke above the falling trend line on the 4-hour chart, suggesting that the downtrend from 1.4376 had completed at 1.3484 already. Further rally would likely be seen and a breakout of 1.3606 resistance could take price to 1.3700 area. Support is at 1.3484, only a breakdown below this level could trigger another downside movement towards 1.3400.

GBPUSD 4-hour chart