GBPUSD Daily Analysis – March 3, 2014

GBPUSD broke above 1.6730 resistance. Further rise to test 1.6822 resistance would likely be seen, a break above this level will confirm that the uptrend from 1.6252 has resumed, then next target would be at 1.7000 area. Support is at 1.6670, only break below this level will indicate that lengthier consolidation of the uptrend is underway, then deeper decline to 1.6400 area to complete that consolidation is possible.

gbpusd chart