GBPUSD Daily Analysis – January 13, 2015

GBPUSD is facing the resistance of the price channel on 4-hour chart, as long as the channel resistance holds, the downtrend from 1.5785 could be expected to continue, and next target would be at 1.4900 area. Key resistance is at 1.5300, only break above this level could signal completion of the downtrend.

gbpusd chart