GBPUSD Weekly Analysis – April 6, 2014

GBPUSD stays in a upward price channel on daily chart. As long as the channel support holds, the uptrend from 1.4813 (Jul 9, 2013 low) could be expected to resume, and another rise towards 1.7000 is still possible. Key support is at 1.6465, only break below this level will indicate that the uptrend from 1.4813 had completed at 1.6822 already, then deeper decline to 1.6000 area could be seen.

gbpusd chart