GBPUSD Daily Analysis – April 16, 2014

After touching the lower line of the price channel on 4-hour chart, GBPUSD rebounded from 1.6660, indicating that the pair remains in uptrend from 1.6465. Another rise could be expected, and next target would be at 1.7000 area. Key support is now at 1.6660, only break below this level could signal completion of the uptrend.

gbpusd chart