GBPUSD Daily Analysis – April 26, 2018

GBPUSD remains in the downtrend from 1.4376, the bounce from 1.3918 is likely consolidation for the downtrend. Resistance is at 1.4030, as long as the price is below this level, the downside movement could be expected to continue and next target would be at 1.3800 area. However, a breakout of 1.4030 resistance would suggest that the downside movement had completed at 1.3918 already, then further rise to 1.4150 area could be seen.

GBPUSD 4-hour chart