GBPUSD Daily Analysis – June 5, 2018

GBPUSD extended its upside movement from 1.3204 to as high as 1.3398. As long as the price is above the rising trend line on the 4-hour chart, the upside movement could be expected to continue and next target would be at 1.3550 area. On the downside, a breakdown below the rising trend line would indicate that the upside movement had completed at 1.3398 already, then another fall towards 1.3000 could be seen.

GBPUSD 4-hour chart