GBPUSD Weekly Analysis – May 20, 2017

GBPUSD stays above the ascending trend line on daily chart, suggesting that the pair remains in uptrend from 1.2109. As long as the trend line support holds, the upward movement could be expected to continue, and next target would be at 1.3500 area. Only a clear break below the trend line support will indicate that the upward movement is complete. This could trigger another fall to test 1.1946 support.

GBPUSD chart