GBPUSD breaks above trend line resistance
October 18, 2012 1:57 am in Forex Analysis
GBPUSD breaks above the downward trend line resistance, suggesting that the downward movement from 1.6309 has completed at 1.5976 already. Further rise could be expected after a minor consolidation, and next target would be at 1.6250 area. Support is at 1.6100, as long as this level holds, the uptrend from 1.5976 will continue.