GBPUSD Daily Analysis – May 22, 2019

GBPUSD extended its downside movement from 1.3176 to as low as 1.2685. 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 1.2600 area. Only break above the trend line resistance could signal completion of the downtrend.

GBPUSD 4-hour chart