GBPUSD Weekly Analysis – August 21, 2016

GBPUSD continued its sideways movement in a range between 1.2795 and 1.3480. Key resistance is at 1.3800, as long as this level holds, the sideways movement could be treated as consolidation of the downtrend from 1.5016, and further decline to 1.2000 area could be seen after consolidation.

gbpusd chart