GBPUSD Daily Analysis – December 19, 2016

GBPUSD remains in downtrend from 1.2774, the rise from 1.2376 is likely consolidation of the downtrend. Further decline could be expected after consolidation, and next target would be at 1.2250 area. Resistance is at 1.2550, as long as this level holds, the downtrend will continue.

gbpusd chart