GBPUSD Daily Analysis – June 25, 2014

GBPUSD broke below the lower line of the price channel on 4-hour chart, indicating that lengthier consolidation of the uptrend from 1.6692 is underway. Range trading between 1.6921 and 1.7062 would likely be seen in a couple of days. Support is now at 1.6921, as long as this level holds, the uptrend could be expected to resume, and one more rise to 1.7300 area to complete the upward movement is possible. Only break below 1.6921 support could signal completion of the uptrend.

gbpusd chart