Short Term – Daily Forex Analysis – November 5, 2013
GBPUSD is testing 1.5894 support, as long as this level holds, the price action from 1.6259 could be treated as consolidation of the uptrend from 1.4813 (Jul 9 low), and one more rise to 1.6500 area to complete to upward movement would likely be seen. On the downside, a breakdown below 1.5894 support will suggest that the uptrend from 1.4813 had completed at 1.6259 already, then the following downward movement could bring price back to 1.4500 zone
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