GBPUSD Daily Analysis – April 8, 2014

GBPUSD broke above 1.6620 resistance, suggesting that the downward movement from 1.6684 had completed. Further rise to test 1.6684 resistance could be expected, a break above this level will signal resumption of the longer term uptrend from 1.6465, then next target would at 1.6800 area. Support is now at 1.6553, only break below this level could trigger another fall to 1.6500 zone.

gbpusd chart