GBPUSD Daily Analysis – May 14, 2019

GBPUSD extended its downside movement from 1.3176 to as low as 1.2940. Further decline could be expected in a couple of days and next target would be at 1.2850 area. Resistance is at 1.3047, only break above this level could signal completion of the downtrend.

GBPUSD 4-hour chart