GBPUSD Daily Analysis - September 19, 2016

Short Term Forex Analysis | by ForexCycle.com | Monday, 19 September 2016 02:23 UTC
GBPUSD continued its downward movement from 1.3445 and the fall extended to as low as 1.2995. Further decline could be expected after a minor consolidation, and next target would be at 1.2900 area. Near term resistance is at 1.3140, and the key resistance is located at the downward trend line on 4-hour chart. Only a clear break above the trend line resistance could signal completion of the downtrend.

gbpusd chart

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