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GBPUSD remains in uptrend from 1.5490
Monday, September 10, 2012 20:24
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GBPUSD remains in uptrend from 1.5490, the fall from 1.6033 is likely consolidation of the uptrend. Range trading between 1.5930 and 1.6033 is possible in a couple of days. Key support is at the upward trend line on 4-hour chart, as long as the trend line support holds, another rise could be expected after consolidation, and next target would be at 1.6100 area. On the downside, a clear break below the trend line support will indicate that the uptrend has completed at 1.6033 already, then the following downward movement could bring price back to 1.5300-1.5400 area.
