GBPUSD Daily Analysis – April 18, 2017

GBPUSD’s rise from 1.2365 extended to as high as 1.2596. Support is now at 1.2500, as long as this level holds, the upward movement could be expected to continue, and next target would be at 1.2650. On the downside, a breakdown below 1.2500 support will indicate that the upward move had completed at 1.2596 already, then deeper decline to test 1.2365 support could be seen.

GBPUSD chart