GBPUSD Weekly Analysis – August 6, 2017

GBPUSD stays above the ascending trend line on its daily chart remains in the uptrend from 1.1987. As long as the price is above the trend line the pullback from 1.3267 could be treated as consolidation of the uptrend. Further rise could be expected after the consolidation and next target would be at 1.3450 area. The key support is at 1.2589, only a breakdown below this level could trigger another fall to retest 1.1946 previous low support.

GBPUSD daily chart