GBPUSD Daily Analysis – May 29, 2020

GBPUSD failed to break below the rising trend line on the 4-hour chart, suggesting that the pair remains in the uptrend from 1.2073. As long as the trend line support holds, the upside movement could be expected to continue and next target would be at 1.2500 area. Key support is at 1.2204, only break below this level could trigger another fall towards 1.2000.

GBPUSD 4-hour chart