GBPUSD Daily Analysis – April 5, 2017

GBPUSD broke below the support of the ascending trend line on 4-hours chart, indicating that the downtrend from 1.2615 has resumed. Further decline could be expected in a couple of days, and next target would be at 1.2200 area. Near term resistance is at 1.2500, only break above this level could trigger another rise to test 1.2615 resistance.

GBPUSD chart