GBPUSD Daily Analysis – February 23, 2015

GBPUSD moved sideways in a trading range between 1.5315 and 1.5479. As long as 1.5315 support holds, the price action in the range could be treated as consolidation of the uptrend from 1.4950, and further rise to 1.5500 area is still possible. On the downside, a breakdown below 1.5315 support will indicate that the uptrend had completed at 1.5479 already, then deeper decline to 1.5000 area could be seen.

gbpusd chart