GBPUSD Weekly Analysis – December 28, 2014

After consolidation, GBPUSD continued its downward movement from 1.7190, and the fall extended to as low as 1.5485. Key resistance is at 1.5825, as long as this level holds, the downtrend could be expected to continue, and next target would be at 1.5000 area. Only break above 1.5825 resistance will indicate that the downtrend is complete, then the following upward movement could bring price back to 1.6000 zone.

gbpusd chart