GBPUSD Daily Analysis – April 3, 2017

GBPUSD remains in downtrend from 1.2615, the rise from 1.2376 is likely correction of the downtrend. As long as 1.2615 resistance holds, the downtrend could be expected to resume, and further decline to 1.2200 area is still possible after the correction. On the upside, a break of 1.2615 resistance will indicate that the uptrend from 1.2109 has resumed, then next target would be at 1.2700 area.

GBPUSD chart