GBPUSD Daily Analysis – September 15, 2016

GBPUSD stays below the downward trend line on 4-hour chart, and remains in downtrend from 1.3445. As long as the trend line resistance holds, the downtrend could be expected to continue, and next target would be at 1.2900 area. On the upside, a clear break above the trend line resistance will indicate that the downtrend had completed at 1.3138 already, then the following upward movement could bring price to 1.3600 zone.

gbpusd chart