GBPUSD Analysis – June 23, 2013

GBPUSD remains in uptrend from 1.4831, the price action from 1.5605 could be treated as consolidation of the uptrend. Pullback to test the support of the lower line of the price channel on daily chart would likely be seen in a couple of weeks. As long as the channel support holds, the uptrend from 1.4831 could be expected to resume, and one more rise towards 1.6500 is still possible after consolidation.

gbpusd daily chart