GBPUSD Analysis – July 13, 2013

GBPUSD broke below 1.4831 support, suggesting that the long term downtrend from 1.6339 (Jan 2 high) has resumed. Further decline would likely be seen after consolidation, and next target would be at 1.4500 area. Resistance is at 1.5300, only break above this level could trigger another rise towards 1.6000.

gbpusd daily chart