GBPUSD Weekly Analysis – March 4, 2018

GBPUSD extended its downside movement from 1.4345, and broke below the bullish trend line on the daily chart, suggesting that the upside movement from 1.3027 had completed at 1.4345 already. Further decline is still possible and next target would be at 1.3400. Below this level would aim 1.3000. Near term resistance is at 1.4150, only break above this level could trigger another rise towards 1.4600.

GBPUSD daily chart