GBPUSD Daily Analysis – May 27, 2020

GBPUSD extended its upside movement from 1.2073 to as high as 1.2362, breaking above 1.2296 resistance. Further rally could be expected and next target would be at 1.2450 area. Near term support is at 1.2290, a breakdown below this level could bring the price back towards the rising trend line on the 4-hour chart.

GBPUSD 4-hour chart