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February 26th, 2010, 5:05 am | By forexcycle | Published in Daily Technical | Comments on this postNo Comments »

GBPUSD breaks below 1.5350 support and the fall from 1.5815 extends to as low as 1.5190 level. Deeper decline is still possible after a minor consolidation and next target would be at 1.5000 area. Resistance is now located at the falling trend line from 1.5815 to 1.5575, as long as the trend line resistance holds, downtrend from 1.5815 could be expected to continue.

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forexcycle Forex Cycle. See more Forex Analysis from forex cycle.

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