GBPUSD Daily Analysis – December 17, 2014

GBPUSD continued its sideways movement in a range between 1.5541 and 1.5825. As long as 1.5825 resistance holds, the price action in the range could be treated as consolidation of the downtrend from 1.6182 (Oct 28 high), another fall towards 1.5000 is still possible after consolidation.

gbpusd chart