GBPUSD remains in down trend and the fall from 2.0158 extends further to as low as 1.8505 level. Deeper decline towards 1.8000 is possible in next few days. Initial resistance is now located at 1.8794 followed by 1.8900, only break above 1.8794 level will signal lengthier consolidation to down trend.
For long term analysis, GBPUSD formed a cycle top at 2.0158 on weekly chart. Further fall towards 1.8000 to reach next cycle bottom is in favor.
