GBPUSD Daily Analysis – May 25, 2018

GBPUSD stays in a falling price channel on the 4-hour chart and remains in the downtrend from 1.3617. As long as the channel resistance holds, the bounce from 1.3304 could be treated as consolidation for the downtrend. Another fall could be expected after the consolidation and next target would be at 1.3150 area. On the upside, a breakout of the channel resistance could bring the price back towards 1.3550.

GBPUSD 4-hour chart