GBPUSD Daily Analysis – February 27, 2017

GBPUSD failed to break above 1.2582 resistance and stayed in the trading range between 1.2346 and 1.2582. The price action in the trading range is likely consolidation of the downtrend from 1.2706. Further decline is possible after consolidation, and next target would be at 1.2000 area.

gbpusd chart