GBPUSD Weekly Analysis – August 12, 2017

GBPUSD remains in the uptrend from 1.1987, the pullback from 1.3267 is likely consolidation of the uptrend. Near term support is at the rising trend line on the daily chart. As long as the price is above the trend line, the uptrend could be expected to resume and further rise to 1.3450 area is still possible. 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