GBPUSD Daily Analysis – April 29, 2014

After breaking above 1.6841 resistance, GBPUSD pulled back from 1.6857, indicating that lengthier consolidation for the uptrend from 1.6465 is needed. Range trading between 1.6750 and 1.6860 would likely be seen in a couple of days. Key support is now at 1.6750, only break below this level could signal completion of the uptrend.

gbpusd chart