GBPUSD's downward movement from 1.6643 extended to as low as 1.6440.

Further decline is still possible after a minor consolidation, and next target would be at 1.6200 area.

Resistance is at 1.6510, only break above this level could bring price back to test the trend line resistance

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.

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Content curiosity of FOREXCycle