GBPUSD Daily Analysis – May 29, 2014

GBPUSD broke below 1.6731 support, and the fall from 1.6920 extended to as low as 1.6697. Further decline could be expected in a couple of days, and next target would be at 1.6600 area. Near term resistance is at 1.6675, as long as this level holds, the downtrend will continue.

gbpusd chart