GBPUSD Daily Analysis – May 9, 2019

GBPUSD broke below the bullish trend line on the 4-hour chart, suggesting that the upside movement from 1.2865 had completed at 1.3176 already. Further decline could be expected and next target would be at 1.2900 area. Near term resistance is at 1.3050, a break of this level could trigger another rise towards 1.3170.

GBPUSD 4-hour chart