GBPUSD Daily Analysis – May 19, 2014

GBPUSD broke above the downward trend line on 4-hour chart, suggesting that the downtrend from 1.6996 had completed at 1.6731 already. Further rise could be expected and next target would be at 1.6900 area. Support is at 1.6731, only break below this level could trigger another fall to 1.6600 zone.

gbpusd chart