GBPUSD Daily Analysis – December 17, 2018

GBPUSD remains in the downtrend from 1.3174, the price action from 1.2475 is likely consolidation for the downtrend. As long as the prices are below the falling trend line on the 4-hour chart, the downside movement could be expected to resume and a breakdown below 1.2475 support could take the price to 1.2400 area. Only a breakout of the trend line resistance could signal completion of the downtrend.

GBPUSD 4-hour chart