GBPUSD Weekly Analysis – May 24, 2015

GBPUSD remains in uptrend from 1.4565, the fall from 1.5814 is likely consolidation of the uptrend. Support is at 1.5080, as long as this level holds, the uptrend could be expected to continue, and next target would be at 1.6500 area. On the downside, a breakdown below 1.5080 support will indicate that the uptrend had completed at 1.5814 already, then the following downward movement could bring price to 1.4000 zone.

gbpusd chart