GBPUSD Daily Analysis – September 11, 2014

GBPUSD remains in downtrend from 1.7190 (Jul 15 high), the rise from 1.6051 is likely consolidation of the downtrend. Near term resistance is at 1.6235, and the key resistance is at located at he falling trend line on 4-hour chart, only a clear break above the trend line resistance could signal completion of the downtrend.

gbpusd chart