GBPUSD Daily Analysis – April 30, 2014
GBPUSD stays in a trading range between 1.6762 and 1.6857.
GBPUSD stays in a trading range between 1.6762 and 1.6857.
The GBPUSD pair fell initially during the session on Thursday, but found enough support below at the 1.68 level to push things higher inform something along the lines of a hammer.
GBPUSD stays in a upward price channel on 4-hour chart, and remains in uptrend from 1.6465, the fall from 1.6820 could be treated as consolidation of the uptrend.
The GBPUSD pair fell during the bulk of the session on Thursday, but bounced enough to form a little bit of a hammer.
GBPUSD broke above 1.6620 resistance, suggesting that the downward movement from 1.6684 had completed.
GBPUSD’s fall from 1.6684 extended to as low as 1.6553.
GBPUSD remains in uptrend from 1.6465, the fall from 1.6684 is likely consolidation of the uptrend.