GBPUSD Daily Analysis – January 23, 2014

GBPUSD is facing 1.6593 resistance, a break above this level will signal resumption of the uptrend from 1.5854 (Nov 12, 2013 low), then next target would be at 1.7000. Support is now at 1.6480, only break below this level will indicate that lengthier consolidation of the uptrend is underway, then pullback to 1.6350 area could be seen.

gbpusd chart