GBPUSD Daily Analysis – February 26, 2014

GBPUSD is facing 1.6730 resistance, a break above this level will indicate that the downward movement from 1.6822 had completed at 1.6582 already, then another rise towards 1.7000 could be seen to follow. On the downside, as long as 1.6730 resistance holds, one more fall to test 1.6530 support is still possible, a breakdown below this level will target 1.6400 zone.

gbpusd chart