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GBPUSD stays above a upward trend line

Discussion in 'Technical Analysis' started by ForexCycle.com, Dec 1, 2013.

  1. ForexCycle.com

    ForexCycle.com Content Contributor

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    GBPUSD stays above a upward trend line on 4-hour chart, and remains in uptrend from 1.5854, and the rise extends to as high as 1.6442. As long as the trend line support holds, the uptrend could be expected to continue, and next target would be at 1.6500 area. On the downside, a clear break below the trend line support will suggest that the uptrend from 1.5854 has completed, then the following downward movement could bring price back to 1.6000 zone.

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