GBPUSD Daily Analysis – February 18, 2015

GBPUSD remains in uptrend from 1.4950, the fall from 1.5439 is likely consolidation of the uptrend. Support is at the bottom of the price channel on 4-hour chart, as long as the channel support holds, the uptrend could be expected to continue and next target would be at 1.5500 area. Key support is at 1.5195, only break below this level could bring price back to 1.5000 zone.

gbpusd chart