GBPUSD Daily Analysis – May 6, 2019

GBPUSD broke above 1.3102 resistance and extended its upside movement from 1.2865 to as high as 1.3176. 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 1.3250 area. Near term support is at 1.3100, a breakdown below this level could bring the price back towards the trend line.

GBPUSD 4-hour chart