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GBPUSD remains in uptrend from 1.5197
Sunday, May 5, 2013 19:52
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GBPUSD remains in uptrend from 1.5197, the fall from 1.5605 is likely minor consolidation of the uptrend. Support is at 1.5465, as long as this level holds, the uptrend could be expected to resume, and next target would be at 1.5700 area. On the downside, a breakdown below 1.5465 will indicate that consolidation of the longer term uptrend from 1.4831 (Mar 12 low) is underway, then deeper decline toward the upward trend line from 1.4831 to 1.5034 could be seen.
