GBPUSD Daily Analysis – December 15, 2014

GBPUSD continued its sideways movement in a range between 1.5541 and 1.5825. As long as 1.5825 resistance holds, the sideways movement could be treated as consolidation of the downtrend from 1.6182 (Oct 28 high). Further decline could be expected after consolidation, and next target would be at 1.5000 area.

gbpusd chart