GBPUSD Daily Analysis – January 9, 2015

GBPUSD’s downward movement from 1.5785 extended to as low as 1.5034. Further decline could be expected, and next target would be at 1.4900 area. Resistance levels are at 1.5170 and 1.5300, only break above these levels could signal completion of the downtrend.

gbpusd chart