GBPUSD Daily Analysis – April 11, 2018

GBPUSD’s bounce from 1.3965 extended to as high as 1.4187. Further rise to test 1.4244 resistance is still possible. As long as this level holds, the bounce would possibly be correction of the downtrend from 1.4244, and a breakdown below 1.4100 support could bring price back towards 1.3900. On the upside, a breakout of 1.4244 resistance could signal resumption of the uptrend from 1.3711, then next target would be at 1.4350 area.

GBPUSD 4-hour chart