GBPUSD Daily Analysis – April 16, 2020

GBPUSD broke below the rising trend line on the 4-hour chart, suggesting that the upside movement from 1.2164 had completed at 1.2647 already. Further decline would likely be seen in the coming days and next target would be at 1.2300 area. Near term resistance is at 1.2575, a break of this level could trigger another rise towards 1.2800.

GBPUSD 4-hour chart