GBPUSD Daily Analysis – April 5, 2018

GBPUSD’s bounce from 1.4008 extended to as high as 1.4096. Resistance is at 1.4150, as long as this level holds, the bounce could be treated as consolidation for the downtrend from 1.4244, 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