Technical Analysis – GBPUSD in descending channel, support at 1.41
Posted on January 27, 2016 at 7:59 am GMTGBPUSD has been falling in a descending channel for a month. The lower channel line has provided support but prices have managed to rise outside the upper channel resistance line. The market is now testing 2-week highs and has found resistance at 1.4366. If prices continue to move up beyond 1.4380, then the 1.4500 level is the next barrier to the upside. If prices move down, there is important support at 1.4100, which if broken, would see another leg to [..]