GBPUSD is in down trend. Further fall to test 1.9337 (Jan 22 low) is expected. Break below this level is possible after consolidation. Key resistance is located at 2.0029, only rise above this level will indicate lengthier correction to the long term down trend.
For long term analysis, the pair is in long term bearish movement. The rise from 1.9337 (Jan 22 low) is treated as correction to the long term down trend. Further fall towards 1.8000 area to reach the next long term cycle bottom on weekly chart is still possible.
