GBPUSD Daily Analysis – January 16, 2015

GBPUSD is in consolidation of the downtrend from 1.5785. Range trading between 1.5034 and 1.5300 would likely 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