GBPUSD Daily Analysis – January 21, 2015

GBPUSD is forming a sideways 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 to 1.4700 is still possible.

gbpusd chart