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GBPUSD stays within a upward price channel

Discussion in 'Technical Analysis' started by ForexCycle.com, Aug 23, 2013.

  1. ForexCycle.com

    ForexCycle.com Content Contributor

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    GBPUSD stays within a upward price channel on 4-hour chart, and remains in uptrend from 1.5102. Support is located at the lower line of the channel, as long as the channel support holds, the uptrend could be expected to resume, and one more rise towards 1.6000 is still possible. On the downside, a clear break below the channel support will indicate that the upward movement from 1.5102 had completed at 1.5717 already, then the following downward move could bring price back to 1.5400 zone.

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