GBPUSD Daily Analysis – February 27, 2015

GBPUSD is facing the support of the upward trend line on 4-hour chart, a clear break below the trend line support will indicate that the uptrend from 1.4950 had completed at 1.5551 already, then deeper decline to 1.5000 area could be seen. However, as long as the trend line support holds, the fall from 1.5551 would possibly be consolidation of the uptrend, one more rise to 1.5650 area is still possible.

gbpusd chart