GBPUSD Daily Analysis – January 20, 2015

GBPUSD is facing 1.5034 support, a breakdown below this level will indicate that the downtrend from 1.5785 has resumed, then next target would be at 1.4700 area. However, as long as 1.5034 support holds, sideways consolidation could be expected to continue, and one more rise to 1.5300 to complete the consolidation is still possible.

gbpusd chart