GBPUSD Daily Analysis – August 25, 2014

GBPUSD continued its downward movement from 1.7190, and the fall extended to as low as 1.6536. Near term resistance is at 1.6600, and the key resistance is located at the downward trend line on 4-hour chart, only a clear break above the trend line resistance could signal completion of the downtrend.

gbpusd chart