GBP/USD - Challenging Key Support
GBP/USD has broken the support at 1.5385 (uptrend channel), opening the way for a new test of the support implied by key hourly support given at 1.5330 (15/09/2015 low). Hourly resistance can be found at 1.5659 (27/08/2015 high). Stronger support is given at 1.5165(04/09/2015 low).
In the longer term, the technical structure looks like a recovery bottom whose maximum upside potential is given by the strong resistance at 1.6189 (Fibo 61% entrancement).