GBPUSD Weekly Analysis – December 27, 2015

GBPUSD continued its downward movement from 1.5929, and the fall extended to as low as 1.4805. Further decline could be expected after a minor consolidation, and next target would be at 1.4700 – 1.4800 area. Resistance is at the downward trend line on daily chart, only a clear break above the trend line resistance could signal completion of the downtrend.

gbpusd chart