GBPUSD Daily Analysis – June 23, 2014

GBPUSD’s upward movement from 1.6692 extended to as high as 1.7062. Support is located at the bottom of the price channel on 4-hour chart, as long as the channel support holds, the uptrend could be expected to continue, and next target would be at 1.7150 area. Only a clear break below the channel support could signal completion of the uptrend.

gbpusd chart