GBPUSD Analysis – August 31, 2013

GBPUSD is facing the support of the upward trend line on daily chart, as long as the trend line support holds, the uptrend from 1.4813 could be expected to resume, and another rise towards 1.6000 is still possible. On the downside, a clear break below the trend line support will suggest that the uptrend from 1.4813 had completed, then further decline to 1.4500 area could be seen.

gbpusd daily chart