GBPUSD’s downtrend extends to as low as 1.4350 level. Further fall is still possible to 1.4000 zone next week. Initial resistance is now at 1.4850 and key resistance is located at 1.5722, only rise above 1.5722 level will indicate that the down trend from 2.0158 has completed.
For long term analysis, GBPUSD breaks below 1.4466 level and is back to long term down trend. Further fall towards 1.4000 to reach the next cycle bottom on weekly chart is now in favor.
