GBPUSD Weekly Analysis – December 13, 2015

GBPUSD stays in a descending wedge pattern on daily chart, and remains in downtrend from 1.5929. Near term resistance is located at the upper border of the wedge, as long as the wedge resistance holds, the downtrend could be expected to continue, and next target would be at 1.4700 – 1.4800 area. Key resistance is at 1.5400, only break above this level could signal completion of the downtrend.

gbpusd chart