GBPUSD Analysis – January 15, 2011

GBPUSD failed to break below 1.5296 key support and bounced to as high as 1.5888 level. Now the pair is facing 1.5910 resistance, a break above this level will confirm that the rise from 1.5344 is resumption of long term uptrend from 1.4230, then further rise towards 1.6298 previous high could be seen.

For long term analysis, GBPUSD is in consolidation of long term uptrend from 1.4230, as long as 1.5296 key support holds, one more rise towards 1.8000 is still possible.

gbpusd daily chart
gbpusd weekly chart