GBPUSD Analysis – September 15, 2013

GBPUSD continues its upward movement from 1.4813 and the rise extends to as high as 1.5884. Support is located 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 1.6200 area. On the downside, a clear break below the trend line support will suggest that the uptrend from 1.4813 has completed, then the following downward movement could bring price back to 1.4500 zone.

gbpusd daily chart