GBPUSD Weekly Analysis – November 30, 2014

GBPUSD stays below the downward trend line on daily chart, and remains in downtrend from 1.7190. As long as the trend line resistance holds, the downtrend could be expected to continue, and next target would be at 1.5000 area. However, a clear break above the trend line resistance will indicate that the downtrend had completed at 1.5590 already, then further rise to 1.6100 area could be seen.

gbpusd chart