GBPUSD Analysis – October 20, 2013

After touching the upward trend line on daily chart, GBPUSD rebounded from 1.5894, suggesting that the pair remains in uptrend from 1.4813. Further rise would likely be seen, and next target would be at 1.6650 area. Key support is now at 1.5894, only break below this level could signal completion of the uptrend.

gbpusd daily chart