GBPUSD Weekly Analysis - August 23, 2015

Long Term Forex Analysis | by ForexCycle.com | Sunday, 23 August 2015 07:01 UTC
GBPUSD remains in uptrend from 1.4565, the price action from 1.5814 could be treated as consolidation of the uptrend. Sideways movement in a range between 1.5170 and 1.5929 could be expected to continue over the next several weeks. Resistance is at 1.5929, a break of this level will indicate that the uptrend has resumed, then next target would be at 1.6500 area. Only break below 1.5170 support could signal completion of the uptrend.

gbpusd chart

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