GBPUSD Daily Analysis – August 20, 2014

GBPUSD broke below 1.6657 support, indicating that the downtrend from 1.7190 has resumed. Further decline could be expected, and next target would be at 1.6500 area. Resistance is located at the downward trend line on 4-hour chart, only a clear break above the trend line resistance could signal completion of the downtrend.

gbpusd chart