GBPUSD Daily Analysis – March 5, 2018

GBPUSD remains in the downtrend from 1.4144, the bounce from 1.3711 could be treated as consolidation for the downtrend. Further decline is still possible after the consolidation and next target would be at 1.3500 area. Resistance is at 1.3880, followed by 1.3920, only break above these levels could signal completion of the downtrend.

GBPUSD 4-hour chart