June 13, 2014
GBP/USD recently rose sharply – in line with our earlier report for this currency pair. The price is currently approaching the round resistance level 1.7000 that was set as the buy target in our previous report for GBP/USD.
The latest upward price impulse (iii) from the end of May was accelerated when the pair reversed up from the lower support trendline of the daily up channel from last November – and then broke the daily down channel from the start of May (as you can see below). GBP/USD is expected to rise to the next buy target at 1.7100.
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