GBPUSD Daily Analysis – February 27, 2020

GBPUSD broke below the bottom of the rising price channel on the 4-hour chart, suggesting that the downtrend from 1.3209 has resumed. Further decline could be expected and next target would be at 1.2850, followed by 1.2800. Resistance is at 1.3017, only break above this level could trigger another rise towards 1.3150.

GBPUSD 4-hour chart