GBPUSD Daily Analysis – September 5, 2014

GBPUSD continued its downward movement from 1.6643, and the fall extended to as low as 1.6286. Further decline could be expected after a minor consolidation, and next target would be at 1.6000 area. Resistance is at 1.6380, only break above this level could bring price back to test the resistance of the downward trend line from 1.7190 to 1.6643.

gbpusd chart