GBPUSD Daily Analysis – October 2, 2014

GBPUSD remains in downtrend from 1.6524, deeper decline is still possible and next target would be at 1.6100 area. Resistance is at 1.6290, only break above this level will indicate that the downtrend had completed at 1.6161 already, then another rise towards 1.6700 could be seen.

gbpusd chart