GBPUSD Daily Analysis – June 12, 2014

GBPUSD remains in uptrend from 1.6692, the fall from 1.6844 could be treated as consolidation of the uptrend. Resistance is at 1.6844, a break above this level will signal resumption of the uptrend, then next target would be at 1.6950 area. Support is at 1.6735, only break below this level will indicate that the uptrend had completed at 1.6844 already, then the following downward movement could bring price to 1.6600 zone.

gbpusd chart