GBPUSD Weekly Analysis – February 22, 2014

GBPUSD stays in a upward price channel on daily chart, and remains in uptrend from 1.4813. As long as the channel support holds, the fall from 1.6822 could be treated as consolidation of the uptrend. Another rise could be expected after consolidation, and next target would be at 1.7000 area. Only a clear break below the channel support could signal completion of the uptrend.

gbpusd chart