Forexgrange: forecast Gbp- Usd based on technical analysis, for the week: September 16-20, 2013

Analysis: On the Gbp-Usd, we have a downtrend on the medium term with a sideway situation on the short term daily chart. On the very short term we have a strong uptrend that start panting enough to prepare the advent of new downtrend situation.

Price range forecast for Gbp-Usd:

- Scenario 1: following the situation on the Daily and 4H chart, we still have a uptrend channel. This week can continue to favor Long positions and we can expect the price to reach the range from 1.6134 to 1.6697

- Scenario 2: according to the situation on the Weekly chart, and the uptrend panting on Daily and 4H chart, we can have a downtrend allowing Short positions where price can reach the range from 1.5667 to 1.5680

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