GBPUSD Daily Analysis – March 12, 2020

GBPUSD extended its downside movement from 1.3199 to as low as 1.2804. 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 1.2725 support. Key resistance is at 1.2976, only break above this level could trigger another rise towards 1.3200.

GBPUSD 4-hour chart