GBPUSD Weekly Analysis – April 5, 2020

GBPUSD rebounded strongly from 1.1409, suggesting that the downside movement from 1.3514 had completed. Further rally would likely be seen after a minor consolidation and a break of 1.2485 resistance could take the price towards the falling trend line on the daily chart. Near term support is at 1.2100, a breakdown below this level could bring the price back to 1.1750 zone.

GBPUSD daily chart