GBPUSD Weekly Analysis – March 2, 2014

GBPUSD remains in uptrend from 1.4813 (Jul 9, 2013 low). Initial support is at 1.6580, and the key support is located at the lower line of the price channel on daily chart. As long as the channel support holds, the uptrend could be expected to continue, and next target would be at 1.7000 area. On the downside, a clear break below the channel support will indicate that the uptrend had completed at 1.6822 already, then the pair will find support around 1.5800.

gbpusd chart