GBPUSD Daily Analysis – February 21, 2014

GBPUSD is facing 1.6620 support, a breakdown below this level will indicate that the uptrend from 1.6252 had completed at 1.6822 already, then deeper decline to 1.6435 area could be seen. On the upside, as long as 1.6620 support holds, the fall from 1.6822 could be treated as consolidation of the uptrend from 1.6252, another rise towards 1.7000 could be expected after consolidation.

gbpusd chart