GBPUSD Weekly Analysis – January 24, 2016

GBPUSD remains in downtrend from 1.5929, the bounce from 1.4080 is likely consolidation of the downtrend. Another fall could be expected, and next target would be at 1.3700 area. Near term resistance is now at 1.4500, as long as this level holds, the downtrend will continue. 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