GBPUSD Analysis – November 13, 2010

GBPUSD stays above a rising trend line on daily chart and remains in uptrend from 1.5296. As long as the trend line support (now at 1.58355) holds, uptrend is expected to continue after consolidation and next target would be at 1.6500 area.

For long term analysis, GBPUSD is in uptrend from 1.4230. Rise to 1.8000 area to reach next cycle top on weekly chart is expected in next several months.

gbpusd daily chart