GBPUSD Daily Analysis – May 29, 2019

GBPUSD moved sideways in a trading range between 1.2604 and 1.2747. As long as 1.2747 resistance holds, the sideways movement could be treated as consolidation for the downtrend from 1.3176, a breakdown below 1.2604 support could trigger further downside movement towards 1.2500. Key resistance is at 1.2813, only break above this level could signal completion of the downtrend.

GBPUSD 4-hour chart