GBPUSD's downward movement from 1.6524 extended to as low as 1.6214.

Resistance is at 1.6340, as long as this level holds, the downtrend could be expected to continue, and next target would be at 1.6100 area.

Only break above 1.6340 resistance will indicate that he downward movement is complete, then another rise towards 1.6700 could be seen

Editor’s Note: Equity investors/traders can use the Currency Shares British Pound Sterling Trust (FXB, quote) ETF to take positions in the yen without a FOREX account.  The ETF looks to track the price of the British Pound Sterling (GBPUSD), minus ETF fee. The fund seeks to reflect the price of the British Pound Sterling (GBPUSD) with the shares representing a cost-effective investment relative to investing in the FOREX market.

Content curiosity of FOREXCycle