GBPUSD Daily Analysis – March 2, 2020

GBPUSD extended its downside movement from 1.3017 to as low as 1.2725. As long as the price is below the falling trend line on the 4-hour chart, the downside movement could be expected to continue and next target would be at 1.2600 area, on the other side, a breakout of the trend line resistance would indicate that the downside movement had completed at 1.2725 already, then another rise towards 1.3000 could be seen.

GBPUSD 4-hour chart