GBPUSD Daily Analysis – May 21, 2019

GBPUSD remains in the downtrend from 1.3176. Further decline could be expected after a minor consolidation and next target would be at 1.2700 area. Near term resistance is at 1.2780, a break of this level could bring the price back towards the falling trend line on the 4-hour chart.

GBPUSD 4-hour chart