GBPUSD Analysis – April 27, 2013

GBPUSD stays within a upward price channel on daily chart, and remains in uptrend from 1.4831, and the rise extends to as high as 1.5498. Further rise could be expected next week, and next target would be at 1.5800 area. Support is at the lower line of the channel, only a clear break below the channel support could signal completion of the uptrend.

For long term analysis, GBPUSD is in uptrend from 1.4831. Further rise towards 1.6000 could be expected over the next several weeks.

gbpusd daily chart