GBPUSD Daily Analysis – January 23, 2015

GBPUSD broke below 1.5034 support, and the downward movement from 1.5785 extended to as low as 1.4971. Further decline could be expected, and next target would be at 1.4700 area. Key resistance is at 1.5268, only break above this level could signal completion of the downtrend.

gbpusd chart