GBPUSD Daily Analysis – March 15, 2019

After touching 1.3350 resistance, GBPUSD pulled back from 1.3381. Deeper decline would likely be seen and the target would be at 1.3100 area. As long as 1.3100 support holds, the fall could be treated as consolidation for the uptrend from 1.2772, one more rise towards 1.3500 is still possible after the consolidation. On the downside, a breakdown below 1.3100 support would indicate that the upside movement chad completed at 1.3381 already, then another fall to 1.2960 area could be seen.

GBPUSD 4-hour chart