GBPUSD Daily Analysis – June 4, 2020

GBPUSD extended its upside movement from 1.2073 to as high as 1.2615 and is now facing 1.2647 resistance, a breakout of this level could trigger further upside movement to 1.2800 area. Near term support is at 1.2475, a breakdown below this level could bring the price back towards the rising trend line on the 4-hour chart.

GBPUSD 4-hour chart