GBPUSD remains in downtrend from 1.7190.

As long as the trend line resistance holds, the downtrend could be expected to continue, and next target would be at 1.5000 area.

On the upside, a clear break above the trend line resistance will signal completion of the downtrend, then the pair will find resistance around 1.6200.

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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