GBPUSD Daily Analysis – March 12, 2014

GBPUSD’s downward movement from 1.6785 extended to as low as 1.6596. Deeper decline would likely be seen in a couple of days, and the target would be at 1.6500 area. Resistance is at 1.6710, only break above this level could trigger another rise to re-test 1.6822 resistance.

gbpusd chart