GBPUSD Daily Analysis – June 1, 2018

GBPUSD broke above the top trend line of the price channel on its 4-hour chart, suggesting that the downside movement from 1.3617 had completed at 1.3204 already. Further rally would likely be seen and the target would be at 1.3450 area. On the downside, as long as 1.3450 resistance holds, the downside move could be expected to resume, and another fall towards 1.3000 is still possible

GBPUSD 4-hour chart