GBPUSD Weekly Analysis – May 6, 2017

GBPUSD’s upward movement from 1.2109 extended to as high as 1.2984. Near term support is at 1.2756, as long as this level holds, the upward move could be expected to continue and next target would be at 1.3500 area. Key support is at the ascending trend line on daily chart, only a clear break below the trend line support could signal completion of the uptrend.

GBPUSD chart