GBPUSD Daily Analysis – December 18, 2018

GBPUSD is in consolidation for the downtrend from 1.3174. As long as the price is below the falling trend line on the 4-hour chart, the downside movement could be expected to resume and further decline towards 1.2400 is possible after the consolidation. Only a breakout of the trend line resistance could signal completion of the downtrend.

GBPUSD 4-hour chart