GBPUSD Daily Analysis – June 18, 2014

GBPUSD is in consolidation of the uptrend from 1.6692. Range trading between 1.6900 and 1.7010 would likely be seen in a couple of days. Support is at 1.6900, as long as this level holds, the uptrend could be expected to resume, and next target would be at 1.7100 area. On the downside, a breakdown below 1.6900 support will indicate that the uptrend had completed at 1.7010 already, then deeper decline to 1.6700 area could be seen.

gbpusd chart