GBPUSD Daily Analysis – March 18, 2014

GBPUSD stays in a downward price channel on 4-hour chart, and remains in downtrend from 1.6822. Deeper decline could be expected, and the target would be at 1.6500 area. Resistance is located at the upper line of the channel, only a clear break above the trend line resistance could trigger another rise towards 1.7000.

gbpusd chart