GBPUSD Analysis, Daily Forex Analysis, July 28th 2010

By IBTimes Staff Reporter | July 28 2010 7:09 AM

GBPUSD continues its upward movement and breaks above 1.5522 (Apr 15 high) long term key resistance, suggesting that the downtrend from 1.7042 (2009 high) had completed at 1.4230 already. Further rise is still possible later today and next target would be at 1.5800 area. Support is at 1.5440, as long as this level holds, uptrend from 1.5124 will continue.

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