GBPUSD Analysis, Daily Forex Analysis, August 24th 2010

24 August 2010 @ 06:07 am EDT

No changed in our view, GBPUSD remains in downtrend. As long as 1.5712 key resistance holds, downtrend from 1.5997 is expected to continue and next target would be at 1.5300-1.5400 area. On the upside, a break above 1.5712 could indicate that the fall from 1.5997 has completed at 1.5464 already, then the following upward move could bring price back towards 1.5997 previous high.

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