GBPUSD Weekly Analysis - January 18, 2015

Long Term Forex Analysis | by ForexCycle.com | Sunday, 18 January 2015 04:17 UTC
GBPUSD remains in downtrend from 1.7190 (Jul 15, 2014 high), the rise from 1.5034 is likely consolidation of the downtrend. Resistance is located at the downward trend line on daily chart, as long as the trend line resistance holds, the downtrend could be expected to continue, and next target would be at 1.4500 area. Only a clear break above the trend line resistance could signal completion of the downtrend.

gbpusd chart

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