GBPUSD Daily Analysis – May 14, 2020

GBPUSD extended its downside movement from 1.2642 to as low as 1.2209. As long as the trend line resistance holds, the downside movement could be expected to continue and next target would be at 1.2100 area. Only break above the trend line resistance could signal completion of the downtrend.

GBPUSD 4-hour chart