GBPUSD Daily Analysis – March 18, 2015

GBPUSD remains in downtrend from 1.5551, the rise from 1.4698 is likely consolidation of the downtrend. Resistance is at 1.4900, as long as this level holds, the downtrend could be expected to continue and next target would be at 1.4500 area. Only break above 1.4900 resistance could signal completion of the downtrend.

gbpusd chart