GBPUSD Weekly Analysis – October 23, 2016

GBPUSD remains in downtrend from 1.3444, further decline could be expected after a minor consolidation, and next target would be at 1.1500 area. Resistance is at 1.2600, only break above this level will indicate that the downtrend had completed at 1.1946 already, then the following upward movement could bring price to 1.4000 zone.

gbpusd chart