GBPUSD Daily Analysis – June 3, 2014

GBPUSD’s rise from 1.6692 extended to as high as 1.6777. However, the rise is likely consolidation of the the downtrend from 1.6920, another fall to 1.6600 area is still possible after consolidation. Resistance is at 1.6800, only break above this level could signal completion of the downtrend.

gbpusd chart