GBPUSD Daily Analysis – September 19, 2016

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