GBPUSD Daily Analysis – March 10, 2017

GBPUSD remains in downtrend from 1.2569. As long as the pair is in the descending channel on 4-hours chart, the downtrend could be expected to continue, and next target would be at 1.2000 area. Resistance levels are at 1.2235 and 1.2300, only break above these levels could signal completion of the downtrend.

GBPUSD chart