GBPUSD Weekly Analysis – March 1, 2020

GBPUSD stays below a falling trend line on the daily chart and remains in the downtrend from 1.3514. As long as the trend line resistance holds, the downside movement could be expected to continue and next target would be at 1.2500 area. Near term resistance is at 1.2900, above this level could bring the price back towards the trend line.

GBPUSD daily chart