GBPUSD is now in the downtrend from 1.2642. Further decline would likely be seen after a minor consolidation and next target would be at 1.2200 area. Near term resistance is at 1.2540, only break above this level could trigger another rise towards 1.2900.
![GBPUSD 4-hour chart](https://www.forexcycle.com/wp-content/uploads/2020/20200505_GBPUSD_1.png)