CD photometric observations in VRI colours and spectroscopic observations of the newly discovered eclipsing binary GSC 2314-0530 (NSVS 6550671) with dMe components and a very short period of P=0.192636d are presented. The simultaneous light-curve solution and radial velocity solution allow us to determine the global parameters of GSC 2314-0530: T1=3735K; T2=3106K; M1=0.51M_{sun}_; M2=0.26M_{sun}_; R1=0.55R_{sun}_; R2=0.29R_{sun}_; L1=0.053L_{sun}_; L2=0.007L_{sun}_; i=72.5{swg}; a=1.28R_{sun}_; d=59pc.