GBPUSD Daily Analysis – May 20, 2019

GBPUSD extended its downside movement from 1.3176 to as low as 1.2713. 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 1.2700 area. Near term resistance is at 1.2800, only break above this level could bring the price back towards the falling trend line.

GBPUSD 4-hour chart