GBPUSD Weekly Analysis - January 5, 2014

Long Term Forex Analysis | by ForexCycle.com | Sunday, 05 January 2014 05:40 UTC
GBPUSD remains in uptrend from 1.5854, the fall from 1.6593 could be treated as consolidation of the uptrend. Initial support is at the lower line of the price channel on daily chart, as long as the channel support holds, the uptrend could be expected to resume, and next target would be at 1.7000 area. On the downside, a clear break below the channel support will indicate that the upward move from 1.5854 had completed at 1.6593 already, then the pair will find support around 1.6100.

gbpusd chart

Recommended Forex Trading Platforms

Forex Trading We know that the right opportunity can happen at anytime, anywhere. Saxo Capital Markets is committed to giving you a suite of platforms that will enable you to access your account and trade the markets whenever and wherever you want.


Subscribe to Newsletter

To receive alerts by email when Free Forex Analysis are updated. Enter your email address below.