GBPUSD Daily Analysis – March 6, 2014

GBPUSD stays in a trading range between 1.6582 and 1.6822. As long as 1.6582 key support holds, the uptrend from 1.6252 could be expected to resume, and one more rise towards 1.7000 is still possible. On the downside, a breakdown below 1.6582 support will indicate that the uptrend from 1.6252 had completed, then deeper decline to 1.6400 area could be seen.

gbpusd chart