GBPUSD Weekly Analysis – November 16, 2014

GBPUSD stays below the downward trend line on daily chart, and remains in downtrend from 1.7190, and the fall extended to as low as 1.5592. As long as the trend line resistance holds, the downtrend could be expected to continue, and next target would be at 1.5000 area. Only a clear break above the trend line resistance could signal completion of the downtrend.

gbpusd chart