GBPUSD Weekly Analysis – January 4, 2015

GBPUSD’s downward movement from 1.7190 (Jul 15, 2014 high) extended to as low as 1.5324. Further decline could be expected, and next target would be at 1.5000 area. Key resistance is at 1.5825, only break above this level could signal completion of the downtrend.

gbpusd chart