GBPUSD Daily Analysis – May 31, 2019

GBPUSD broke below 1.2604 support, suggesting that the downtrend from 1.3176 has resumed. Further decline could be expected and next target would be at 1.2550 area. Near term resistance is at 1.2640, a break of this level could bring the price back to 1.2700 area.

GBPUSD 4-hour chart