GBPUSD Daily Analysis – April 29, 2019

GBPUSD extended its downside movement from 1.3132 to as low as 1.2865. As long as the price is below the bearish trend line on the 4-hour chart, the downside movement could be expected to continue and next target would be at 1.2800 area. Only a clear break above the trend line resistance could signal completion of the downtrend.

GBPUSD 4-hour chart