GBPUSD Daily Analysis – March 28, 2018

GBPUSD failed its attempt to break below the bottom support trend line of the price channel on the 4-hour chart, suggesting that the pair remains in the uptrend from 1.3711 and the fall from 1.4244 could be treated as consolidation for the uptrend. As long as the channel support holds, the uptrend could be expected to continue and next target would be at 1.4345 (Jan 25 high). The key support is now at 1.4066, only a breakdown below this level could bring price back towards 1.3711 support.

GBPUSD 4-hour chart