GBPUSD Weekly Analysis – January 29, 2017

GBPUSD is facing 1.2774 resistance. As long as this level holds, the price action in the trading range between 1.1946 and 1.2774 could be treated as consolidation of the downtrend from 1.5016, and further decline to 1.1500 area is possible after consolidation.

gbpusd chart