GBPUSD Daily Analysis – March 11, 2020

GBPUSD broke below the bottom of the price channel on the 4-hour chart, suggesting that the upside movement from 1.2725 had completed at 1.3199 already. Further decline is still possible and next target would be at 1.2750 area. Near term resistance is at 1.2980, a break of this level could trigger another rise towards 1.3200.

GBPUSD 4-hour chart