GBPUSD Daily Analysis – March 17, 2020

GBPUSD’s downside movement from 1.3199 extended to as low as 1.2201. Further decline would likely be seen after a minor consolidation and next target would be at 1.2100 area. Near term resistance is at 1.2420, a break of this level could bring the price back towards the falling trend line on the 4-hour chart.

GBPUSD 4-hour chart