GBPUSD, May 15th 2014

On this post I want to revise my key level to watch on this pair. I've found a good potential level for this pair that have probability to change the direction of the trend. I believe that the support area which lay on 1.6723 - 1.6663 will have probability to reject the price from it's minor downtrend. I also draw a trendline stretched from the low of November 12th, 2013 to the low of February 5th, 2014 which also validating our perspective on GBPUSD uptrend bias. We will wait and see carefully how price will react on this key level. If the price can maintain it's position above this key level and trendline, we could expect for another uptrend heading to the old key resistance at 1.7000.