GBPUSD Daily Analysis – January 10, 2017

GBPUSD broke below 1.2199 support and continued its downward movement from 1.2774. Further decline could be expected, and next target would be at 1.2000 area. Resistance levels are at 1.2300 and 1.2432, only break above these levels could signal completion of the downtrend.

gbpusd chart