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GBPUSD is facing channel support

Discussion in 'Technical Analysis' started by ForexCycle.com, Aug 25, 2013.

  1. ForexCycle.com

    ForexCycle.com Content Contributor

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    GBPUSD is facing the support of the lower line of the price channel on 4-hour chart. A clear break below the channel support will indicate that the uptrend from 1.5102 had completed at 1.5717 already, then deeper decline to 1.5400 area could be seen. On the upside, as long as the channel support holds, the fall from 1.5717 would possibly be consolidation of the uptrend from 1.5102, one more rise towards 1.6000 is still possible after consolidation.

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