GBPUSD Weekly Analysis – August 10, 2014

GBPUSD is facing 1.6692 support, a breakdown below this level will confirm that the uptrend from 1.4813 (Jul 9, 2013 low) had completed at 1.7190 already, then next target would be at 1.6300 area. Resistance is at 1.7040, only break above this level will indicate that the downtrend from 1.7190 is complete, then another rise towards 1.7500 could be seen.

gbpusd chart