GBPUSD Daily Analysis – March 4, 2020

GBPUSD broke above the falling trend line on the 4-hour chart, suggesting that the downside movement from 1.3017 had completed at 1.2725 already. Further rally would likely be seen and next target would be at 1.2900 area. Near term support is at 1.2760, a breakdown below this level could trigger another fall towards 1.2600.

GBPUSD 4-hour chart