GBPUSD Weekly Analysis - April 26, 2015

Long Term Forex Analysis | by ForexCycle.com | Sunday, 26 April 2015 09:25 UTC
GBPUSD is facing the resistance of the price channel on daily chart, as long as the channel resistance holds, the rise from 1.4565 could be treated as consolidation of the downtrend from 1.7190 (Jul 15, 2014 high), another fall towards 1.4000 is still possible after consolidation. On the upside, a clear break above the channel resistance will indicate that lengthier consolidation for the downtrend is underway, then further rise to test 1.5551 key resistance could be seen.

gbpusd chart

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