GBPUSD Daily Analysis – May 23, 2019

GBPUSD’s downside movement from 1.3176 extended to as low as 1.2624. 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 1.2550 area. Key resistance is at 1.2813, only break above this level could signal completion of the downtrend.

GBPUSD 4-hour chart