GBPUSD Daily Analysis – March 12, 2015

GBPUSD remains in downtrend from 1.5551, and the downward movement extended to as low as 1.4893. Further decline could be expected after a minor consolidation, and next target would be at 1.4500 area. Resistance is at 1.5050, only break above this level could signal completion of the downtrend.

gbpusd chart