GBPUSD Daily Analysis – February 11, 2015

GBPUSD is now in uptrend from 1.4950, the fall from 1.5351 is likely consolidation of the uptrend. Near term support is 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 1.5500 area. Key support is at 1.4950, only break below this level could trigger another fall towards 1.4500.

gbpusd chart