GBPUSD Daily Analysis – September 9, 2016

GBPUSD stays in a upward price channel on 4-hour chart, indicating that the pair remains in uptrend from 1.2865. Support is located at the bottom of the channel. As long as the channel support holds, the uptrend could be expected to continue, and next target would be at 1.3700 area. On the downside, a clear break below the channel support will signal completion of the uptrend, then the following downward movement could bring price back to 1.2900 zone.

gbpusd chart