GBPUSD Daily Analysis – September 26, 2016

GBPUSD’s downward movement from 1.3445 extended to as low as 1.2914. Further decline to test 1.2865 support is possible in a couple of days. Resistance is located at the downward trend line on 4-hour chart, only a clear break above the trend line resistance could indicate that the downtrend had completed at 1.2914 already, then the following upward movement could bring price back to 1.3300 – 1.3350 area.

gbpusd chart