GBPUSD Daily Analysis – April 11, 2017

GBPUSD broke out below the lower line of the triangle pattern on 4-hour chart, indicating that the upward movement from 1.2109 had completed at 1.2615 already. The pair is now in downtrend, further decline could be expected after a minor consolidation and next target would be at 1.2200 area.

GBPUSD chart