GBPUSD Weekly Analysis – June 14, 2014

GBPUSD is facing 1.6996 resistance, a break above this level will signal resumption of the uptrend from 1.4813 (Jul 9, 2013 low), then next target would be at 1.7300 area. Key support is now at 1.6692, only break below this level will indicate that the uptrend has completed, then the following downward movement could bring price back to 1.5500 area.

gbpusd chart