GBPUSD Weekly Analysis – October 25, 2015

GBPUSD stays in the downward price channel on daily chart, and remains in downtrend from 1.5929. Resistance is at the top of the channel. As long as the channel resistance holds, the downtrend could be expected to continue, and next target would be at 1.4700 area. Only a clear break above the channel resistance could signal completion of the downtrend.

gbpusd chart