GBPUSD Daily Analysis – May 13, 2020

GBPUSD broke below 1.2265 support, suggesting that the downtrend from 1.2642 has resumed. Further decline could be expected and next target would be at 1.2100 area. Key resistance is at 1.2466, only break above this level could signal completion of the downtrend.

GBPUSD 4-hour chart