GBPUSD Daily Analysis – April 24, 2014

GBPUSD failed to break above 1.6841 resistance and pulled back to 1.6762, indicating that lengthier consolidation for the uptrend from 1.6465 is needed. Deeper decline to test 1.6660 would likely be seen, as long as this level holds, the uptrend could be expected to resume, and one more rise towards 1.7000 is possible after consolidation. Only break below 1.6660 support could signal completion of the uptrend.

gbpusd chart