GBPUSD Daily Analysis – September 13, 2017

GBPUSD broke above 1.3267 previous high resistance and extended its bullish movement from 1.2909 to as high as 1.3310. Near term support is at the rising trend line on the 4-hour chart. As long as the price is above the trend line, the upside movement could be expected to continue and next target would be at 1.3444, followed by 1.3700. On the downside, a clear break below the trend line support could bring price back to next support level at 1.3159, only a breakdown below this level could signal completion of the uptrend.

GBPUSD 4-hour chart