GBPUSD Weekly Analysis – September 4, 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 price action from 1.2795 could be treated as consolidation of the downtrend from 1.5016, another fall to 1.2000 area is still possible after consolidation.

gbpusd chart