GBPUSD Daily Analysis – January 15, 2015

GBPUSD remains in downtrend from 1.5785, the rise from 1.5034 is likely consolidation of the downtrend. Range trading between 1.5034 and 1.5300 could be seen in a couple of days. Resistance is at 1.5300, as long as this level holds, the downtrend could be expected to resume, and another fall towards 1.4500 is still possible. Only break above 1.5300 resistance could signal completion of the downtrend.

gbpusd chart