GBPUSD Daily Analysis – October 13, 2014

GBPUSD is now in uptrend from 1.5951, the fall from 1.6226 could be treated as consolidation of the uptrend. Further rise would likely be seen, and next target would be at 1.6350 area. Key support is at 1.5951, only break below this level will indicate that the downtrend from 1.7190 (Jul 15 high) has resumed, then next target would be at 1.5600 area.

gbpusd chart