GBPUSD Daily Analysis – June 2, 2020

GBPUSD extended its upside movement from 1.2073 to as high as 1.2525. Further rise is still possible and next target would be at 1.2600 area. Near term support is at 1.2430, a breakdown below this level could bring the price back towards the rising trend line on the 4-hour chart.

GBPUSD 4-hour chart