GBPUSD Daily Analysis – May 28, 2020

GBPUSD is facing the support of the rising trend line on the 4-hour chart. As long as the trend line support holds, the pullback from 1.2362 could be treated as consolidation for the uptrend from 1.2073, and further rise to 1.2450 area is possible after the consolidation. On the downside, a breakdown below the trend line support would indicate that the upside movement had completed at 1.2362 already, then another fall towards 1.2000 could be seen.

GBPUSD 4-hour chart