GBPUSD Weekly Analysis – January 10, 2016

GBPUSD broke below 1.4565 (Apr 13, 2015 low) support. Further decline could be expected after a minor consolidation, and next target would be at 1.4000 area. Near term resistance is at 1.4750, as long as this level holds, the downtrend will continue. Key resistance is located at the downward trend line on daily chart, only a clear break above the trend line resistance could bring price back towards 1.8000.

gbpusd chart