GBPUSD Weekly Analysis – March 18, 2018

GBPUSD remains in the downtrend from 1.4345, the bounce from 1.3711 is likely consolidation for the downtrend. Further decline is still possible after the consolidation and a breakdown below 1.3711 support could take price to next support level at 1.3500, followed by 1.3000. Near term resistance is at 1.4145, only break above this level could trigger another rise towards 1.4600.

GBPUSD daily chart