GBPUSD Daily Analysis – December 16, 2014

GBPUSD stays in the trading range between 1.5541 and 1.5825. The price action in the range is likely consolidation of the downtrend from 1.6182 (Oct 28 high), as long as 1.5825 resistance holds, the downtrend could be expected to resume, and next target would be at 1.5000 area.

gbpusd chart