GBPUSD Weekly Analysis - October 4, 2014

Long Term Forex Analysis | by ForexCycle.com | Saturday, 04 October 2014 12:17 UTC
GBPUSD broke below 1.6051 support, indicating that the downtrend from 1.7190 has resumed. Further decline could be expected, and next target would be at 1.5500 area. Near term resistance is at 1.6100, only break above this level will suggest that lengthier consolidation for the downtrend is needed, then another rise to 1.6450 area could be seen.

gbpusd chart

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