GBPUSD Weekly Analysis – January 17, 2016

GBPUSD’s downward movement from 1.5929 extended to as low as 1.4251. Near term resistance is at 1.4550, as long as this level holds, the downtrend could be expected to continue, and next target would be at 1.3700 area. Key resistance is 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