GBPUSD Daily Analysis – March 2, 2015

GBPUSD is testing that support of the upward trend line on 4-hour chart. As long as the trend line support holds, the fall from 1.5551 could be treated as consolidation of the uptrend from 1.4950, one more rise to 1.5650 area to complete the upward movement is still possible. On the downside, a clear break below the trend line support will indicate that the uptrend had completed at 1.5551 already, then deeper decline to 1.5000 area could be seen.

gbpusd chart