GBPUSD Daily Analysis – December 14, 2017

GBPUSD broke below the bullish trend line on the 4-hour chart and is now in downtrend from 1.3549, the bounce from 1.3303 would possibly be consolidation of the downtrend. Another fall could be expected after the consolidation and a breakdown below 1.3303 support could take price to next support level at 1.3220. Below this level would aim 1.3027 (Oct 6 low) support. Near term resistance levels are at 1.3500 and 1.3549, only break above these levels could trigger another rise towards 1.3657 (Sep 20 high).

GBPUSD 4-hour chart