GBPUSD Analysis – September 8, 2013

GBPUSD stays above a upward trend line on daily chart, and remains in uptrend from 1.4813, the fall from 1.5717 could be treated as consolidation of the uptrend. As long as the trend line support holds, the uptrend could be expected to resume, and one more rise towards 1.6000 is still possible. Resistance is at 1.5717, a break above this level could signal resumption of the uptrend. Initial support is at the trend line, and the key support is at 1.5429, only break below this level could signal completion of the uptrend.

gbpusd daily chart