GBPUSD Daily Analysis – December 30, 2013

GBPUSD broke above 1.6481 resistance and reached as high as 1.6577 last Friday, suggesting that the uptrend form 1.5854 (Nov 12 low) has resumed. Further rise could be expected, and next target would be at 1.6700 area. Support is now at 1.6430, only break below this level could indicate that lengthier consolidation of the uptrend is underway, then the pair will find support around 1.6300.

gbpusd chart