GBPUSD Daily Analysis – March 7, 2019

GBPUSD remains in the downtrend from 1.3350, the bounce from 1.3097 is likely consolidation for the downtrend. As long as 1.3200 resistance holds, the downside movement could be expected to continue and next target would be at 1.3040 area. Only a break of 1.3200 resistance could signal completion of the downtrend.

GBPUSD 4-hour chart