GBPUSD Daily Analysis – April 4, 2018

GBPUSD remains in the downtrend from 1.4244, the bounce from 1.4008 is likely consolidation for the downtrend. Resistance is at 1.4150, as long as this level holds, the downtrend could be expected to resume and a breakdown below 1.4008 support could take price to next support level at 1.3889, followed by 1.3711. Only break above 1.4150 resistance could trigger another rise towards 1.4345 (Jan 25 high).

GBPUSD 4-hour chart