GBPUSD Daily Analysis – April 17, 2014

GBPUSD broke above 1.6820 resistance and reached as high as 1.6836, indicating that the uptrend from 1.6465 has resumed. Further rise could be expected, and next target would be at 1.7000 area. Initial support is at the lower line of the price channel on 4-hour chart, and the key support is at 1.6660, only break below this level could signal completion of the uptrend.

gbpusd chart