GBPUSD Daily Analysis – April 12, 2017

GBPUSD is now in downtrend from 1.2615, the price action from 1.2376 could be treated as consolidation of the downtrend. Another fall could be expected after the consolidation and next target would be at 1.2200 area. Resistance is at 1.2550, only break above this level could bring price back to the uptrend from 1.2109.

GBPUSD chart