GBPUSD Weekly Analysis – February 16, 2014

GBPUSD broke above 1.6668 resistance, and reached as high as 1.6755, indicating the the uptrend from 1.4813 has resumed. Further rise could be expected in a couple of weeks, and next target would be at 1.7000 area. Support is located at the upward trend line on daily chart, only a clear break below the trend line support could signal completion of the uptrend.

gbpusd chart