GBPUSD Daily Analysis – July 2, 2014

GBPUSD stays above the upward trend line on 4-hour chart, and remains in uptrend from 1.6692. As long as the trend line support holds, the uptrend could be expected to continue, and next target would be at 1.7300 area. On the downside, a clear break below the trend line support will indicate that consolidation of the uptrend is underway, then deeper decline to test 1.6952 key support is possible.

gbpusd chart