GBPUSD Weekly Analysis - March 22, 2014

Long Term Forex Analysis | by ForexCycle.com | Saturday, 22 March 2014 14:26 UTC
GBPUSD is facing the support of the lower line of the price channel on daily chart. A clear break below the channel support will indicate that the uptrend from 1.4813 (Jul 9, 2013 low) had completed at 1.6822 already, then deeper decline to 1.6000 area could be seen. However, as long as the channel support holds, the fall from 1.6822 could be treated as consolidation of the uptrend from 1.4813, one more rise towards 1.7000 could be expected after consolidation.

gbpusd chart

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