GBPUSD Daily Analysis – May 27, 2019

GBPUSD broke above the bearish trend line on the 4-hour chart, suggesting that consolidation for the downtrend from 1.3176 is underway. Range trading between 1.2604 and 1.2813 would likely be seen in the coming days. As long as 1.2813 key resistance holds, the downtrend could be expected to resume, another fall to 1.2500 area is still possible after the consolidation.

GBPUSD 4-hour chart