GBPUSD remains in uptrend from 1.6465, the fall from 1.6918 could be treated as consolidation of the uptrend.

Near term support is located at the bottom of the price channel on 4-hour chart, as long as the channel support holds, the uptrend could be expected to resume, and another rise to 1.7000 is still possible after consolidation.

Key support is at 1.6762, only break below this level could signal completion of the uptrend.

Editor’s Note: Equity investors/traders can use the Currency Shares British Pound Sterling Trust (FXB, quote) ETF to take positions in the yen without a FOREX account.  The ETF looks to track the price of the British Pound Sterling, minus ETF fee. The fund seeks to reflect the price of the British Pound Sterling with the shares representing a cost-effective investment relative to investing in the FOREX market.

Content curiosity of FOREXCycle