GBPUSD Daily Analysis – April 30, 2014

GBPUSD stays in a trading range between 1.6762 and 1.6857. As long as 1.6762 support holds, the price action in the range could be treated as consolidation of the uptrend from 1.6465, one more rise to 1.7000 area is still possible. On the downside, a breakdown below 1.6762 support will indicate that the uptrend from 1.6465 had completed at 1.6857 already, then the following downward movement could bring price to 1.6000 zone.

gbpusd chart