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GBPUSD Weekly Analysis - August 24, 2014

Long Term Forex Analysis | by ForexCycle.com | Sunday, 24 August 2014 01:24 UTC
GBPUSD is now in downtrend from 1.7190, and the fall extended to as low as 1.6560. Further decline could be expected over the next several weeks, and next target would be at 1.6000 area. Resistance is at 1.6740, only break above this level will indicate that correction of the downtrend is underway, then further rise to 1.6900 area could be seen.

gbpusd chart

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