GBPUSD Daily Analysis – March 16, 2018

GBPUSD remains in the uptrend from 1.3711, the fall from 1.3995 is likely consolidation for the uptrend. As long as the price is above the bullish trend line on the 4-hour chart, the upside movement could be expected to continue and a break of 1.3995 resistance could take price to next resistance level at 1.4069. On the downside, a breakdown below the trend line support would suggest that the uptrend had completed at 1.3995 already, then further decline towards 1.3711 could be seen.

GBPUSD 4-hour chart