GBPUSD Daily Analysis – February 19, 2014

GBPUSD remains in uptrend from 1.6252, the fall from 1.6822 is likely consolidation of the uptrend. Range trading between 1.6620 and 1.6822 is possible in a couple of days. As long as 1.6620 support holds, the uptrend could be expected to resume, and another rise towards 1.7000 could be seen after consolidation. On the downside, a breakdown below 1.6620 support will indicate that the uptrend from 1.6252 had completed, then the pair will find support around 1.6435.

gbpusd chart