GBPUSD Daily Analysis – March 11, 2019

GBPUSD extended its downside movement from 1.3350 to as low as 1.2960. As long as the price is below the bearish trend line on the 4-hour chart, the downside movement could be expected to continue and next target would be at 1.2900 area. Near term resistance is at 1.3050, above this level could bring the price back towards the trend line.

GBPUSD 4-hour chart