GBPUSD Daily Analysis – July 3, 2014

GBPUSD remains in uptrend from 1.6692, and the rise extended to as high as 1.7176. Near term support is located at the upward trend line on 4-hour chart, as long as the trend line support holds, the uptrend could be expected to continue, and next target would be at 1.7300 area. On the downside, a clear break below the trend line support will indicate that consolidation of the uptrend is underway, then deeper decline to test 1.6952 key support is possible.

gbpusd chart