GBPUSD Daily Analysis – December 1, 2014

GBPUSD broke below 1.5590 support, indicating that the downtrend from 1.6182 has resumed. Further decline could be expected, and next target would be at 1.5400 area. Resistance is at 1.5670, only break above this level will indicate that lengthier consolidation for the downtrend is needed, then further rise to test 1.5825 resistance could be seen.

gbpusd chart