GBPUSD Weekly Analysis – April 12, 2014

GBPUSD is facing 1.6822 resistance, a break above this level will signal resumption of the uptrend from 1.4813 (Jul 9, 2013 low), then the following upward movement could bring price to 1.7500 area. On the downside, as long as 1.6822 resistance holds, range trading between 1.6465 and 1.6822 could be expected to continue, and another all to test 1.6465 key support is still possible.

gbpusd chart