GBPUSD Weekly Analysis – March 22, 2015

GBPUSD remains in downtrend from 1.7190 (Jul 15, 2014 high), the rise from 1.4634 could be treated as consolidation of the downtrend. Resistance is located at the top of the price channel on daily chart, as long as the channel resistance holds, the downtrend could be expected to resume, and another fall towards 1.4000 is still possible.

gbpusd chart