GBPUSD Daily Analysis – April 4, 2017

GBPUSD is facing the support of the upward trend line on 4-hours chart. A clear break below the trend line support will indicate that the downtrend from 1.2615 has resumed, then further decline to 1.2200 area could be seen. Resistance levels are at 1.2555 and 1.2615, only break above these levels could signal resumption of the uptrend from 1.2109, then next target would be at 1.2700 area.

GBPUSD chart