GBPUSD Daily Analysis – March 16, 2015

GBPUSD continued its downward movement from 1.5551, and the fall extended to as low as 1.4698. Further decline could be expected after a minor consolidation, and next target would be at 1.4500 area. Resistance is now at 1.4900, only break above this level could signal completion of the downtrend.

gbpusd chart