GBPUSD Daily Analysis – February 2, 2015

GBPUSD moved sideways in a trading range between 1.4950 and 1.5268. As long as 1.5268 resistance holds, the price action in the range could be treated as consolidation of the downtrend from 1.5785 (Dec 16, 2014 high), and another fall towards 1.4500 is still possible after consolidation.

gbpusd chart