GBPUSD remains in uptrend from 1.5951, the fall from 1.6226 is likely correction of the uptrend.

As long as 1.5951 key support holds, the uptrend could be expected to resume, and one more rise to 1.6400 area to complete the upward movement is still possible.

On the downside, a breakdown below 1.5951 will indicate that the downtrend from 1.7190 (Jul 15 high) has resumed, then next target would be at 1.5600 area.

Editor’s Note: Equity investors/traders can use the Currency Shares British Pound Sterling Trust (FXB, quote) ETF to take positions in the yen without a FOREX account. 

The ETF looks to track the price of the British Pound Sterling (GBPUSD), minus ETF fee. The fund seeks to reflect the price of the British Pound Sterling (GBPUSD) with the shares representing a cost-effective investment relative to investing in the FOREX market.

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