GBPUSD Weekly Analysis – June 22, 2014

GBPUSD broke above 1.6996 resistance, indicating that the uptrend from 1.4813 (Jul 9, 2013 low) has resumed. Further rise could be expected, and next target would be at 1.7300 area. Key support is at 1.6692, only break below this level will signal completion of the uptrend, then the following downward movement could bring price back to 1.5500 area.

gbpusd chart