GBPUSD Analysis – April 30, 2011

GBPUSD is in uptrend from 1.5936, and the rise extended to as high as 1.6745. Further rise could be expected next week and next target would be at 1.7000 area. Support is at 1.6600, as long as this level holds, uptrend will continue.

For long term analysis, GBPUSD is in uptrend from 1.4230, further rise to 1.7000-1.7500 area to reach next cycle top on weekly chart is possible.

gbpusd daily chart