GBPUSD Weekly Analysis – April 12, 2015

GBPUSD broke below 1.4634 support, indicating that the downtrend from 1.7190 (Jul 15, 2014 high) has resumed. Further decline could be expected, and next target would be at 1.4000 area. Near term resistance is at 1.4800, only break above this level will indicate that lengthier consolidation for the downtrend is needed, then further rise towards top of the price channel on daily chart could be seen.

gbpusd chart