GBPUSD Weekly Analysis – December 14, 2013

GBPUSD’s upward movement from 1.4813 extended to as high as 1.6465. Further rise would likely be seen, and next target would be at 1.7000. Support is at 1.6200, only break below this level will indicate that consolidation of the uptrend from 1.4813 is underway, then deeper decline to 1.6000 area to complete the consolidation could be seen.

gbpusd daily chart