GBPUSD Weekly Analysis – June 28, 2015

GBPUSD is in uptrend from 1.5170, the fall from 1.5929 is likely consolidation of the uptrend. Support is at 1.5550, 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 1.5550 support will indicate that lengthier consolidation for the longer term uptrend from 1.4565 is needed, then deeper decline to 1.5300 area could be seen.

gbpusd chart