GBPUSD Daily Analysis – May 20, 2020

GBPUSD broke above the falling trend line on the 4-hour chart, suggesting that the downside movement from 1.2642 had completed at 1.2073 already. Further rally would likely be seen and next target would be at 1.2466 resistance. Support is at 1.2073, only break below this level could trigger another fall towards 1.1900.

GBPUSD 4-hour chart