GBPUSD Daily Analysis – September 27, 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, further decline to test 1.2865 (Aug 15 low) support is possible. On the upside, a clear break above the trend line resistance will indicate that the downtrend is complete, then the following upward movement could bring price back to 1.3300 – 1.3350 area.

gbpusd chart