GBPUSD Daily Analysis – September 16, 2016

GBPUSD is facing the resistance of the downward trend line on 4-hour chart. As long as the trend line resistance holds, the downtrend from 1.3445 could be expected to resume, and further decline to 1.2900 area is possible. On the upside, a clear break above the trend line resistance will indicate that the downward movement had completed at 1.3138 already, then next target would be at 1.3600 zone.

gbpusd chart