Sunday, October 13, 2013

GBPUSD is facing trend line support

GBPUSD is facing the support of the upward trend line on daily chart, as long as the trend line support holds, the uptrend from 1.4813 could be expected to resume, and one more rise towards 1.6500 is still possible. On the downside, a clear break below the trend line support will indicate that the uptrend had completed at 1.6259 already, then the following downward movement could bring price to 1.4500 zone.

gbpusd daily chart