GBPUSD Daily Analysis – September 19, 2014

GBPUSD broke above the downward trend line on 4-hour chart, indicating that the downtrend from 1.7190 (Jul 15 high) had completed at 1.6051 already. Further rise could be expected in a couple of days, and next target would be at 1.6700 area. Support levels are at 1.6410 and 1.6320, only break below these levels could trigger another fall towards 1.5800.

gbpusd chart