GBPUSD Daily Analysis – May 22, 2018

GBPUSD extended its downside movement from 1.4376 to as low as 1.3390. Further decline is possible after a minor consolidation and next target would be at 1.3300 area. Near term resistance is at the falling trend line on the 4-hour chart and the key resistance is at 1.3617, only a breakout of this level could signal completion of the downtrend.

GBPUSD 4-hour chart