GBPUSD Daily Analysis – June 24, 2014

GBPUSD remains in uptrend from 1.6692, the fall from 1.7062 could be treated as consolidation of the uptrend. Support is at the lower line of the price channel on 4-hour chart, as long as the channel support holds, the uptrend could be expected to resume, and next target would be at 1.7150 area. On the downside, a clear break below the channel support will indicate that the uptrend had completed at 1.7062 already, then deeper decline to 1.6800 area could be seen.

gbpusd chart