GBPUSD Daily Analysis – May 17, 2019

GBPUSD’s downside movement from 1.3176 extended to as low as 1.2787. Further decline could be expected after a minor consolidation and next target would be at 1.2700 area. Resistance is at 1.2880, a break of this level could bring the price back towards the bearish trend line on the 4-hour chart.

GBPUSD 4-hour chart