GBPUSD Daily Analysis – October 6, 2014

GBPUSD broke below 1.6051 support, indicating that the downtrend from 1.7190 (Jul 15 high) has resumed. Further decline could be expected after a minor consolidation, and next target would be at 1.5600 area. Resistance levels are at 1.6050 and 1.6080, only break above these levels could trigger another rise to 1.6400 area.

gbpusd chart