GBPUSD Daily Analysis – December 5, 2014

GBPUSD stays in a trading range between 1.5585 and 1.5825. The price action in the range is likely consolidation of the downtrend from 1.6182, another fall towards 1.5000 could be expected after consolidation. Support is at 1.5585, a breakdown below this level will signal resumption of the downtrend.

gbpusd chart