GBPUSD Daily Analysis – March 21, 2014

GBPUSD stays below a downward trend line on 4-hour chart, and remains in downtrend from 1.6785, and the fall extended to as low as 1.6480. As long as the trend line resistance holds, the downtrend could be expected to continue, and next target would be at 1.6400 area. Only a clear break above the trend line resistance could signal completion of the downtrend.

gbpusd chart