GBPUSD Daily Analysis – April 9, 2018

GBPUSD broke above 1.4096 resistance, suggesting that lengthier consolidation for the downtrend from 1.4244 is underway. Further rally is still possible and the target would be at 1.4150 area. However, as long as 1.4150 resistance holds, the downtrend could be expected to resume and another fall towards 1.3889 support is still possible after the consolidation.

GBPUSD 4-hour chart