GBPUSD Daily Analysis – March 26, 2019

GBPUSD is testing the resistance of the bearish trend line on the 4-hour chart. A clear break of the trend line resistance would indicate that the downside movement from 1.3381 had completed at 1.3003 already, then another rise towards 1.3400 could be seen. However, as long as the trend line resistance holds, the bounce from 1.3003 could be treated as consolidation for the downtrend, another fall towards 1.3000 is still possible after the consolidation.

GBPUSD 4-hour chart