GBPUSD Analysis – August 24, 2013

GBPUSD’s upward movement from 1.4813 extended to as high as 1.5717. Support remains at the upward trend line on daily chart, as long as the trend line support holds, the uptrend could be expected to continue, and next target would be at 1.6000 area, only a clear break below the trend line support could signal completion of the uptrend.

gbpusd daily chart