GBPUSD Weekly Analysis – February 5, 2017

GBPUSD moved sideways in a trading range between 1.1946 and 1.2774. Resistance levels are at 1.2774 and 1.3050. As long as these levels hold, the price action from 1.1946 could be treated as consolidation of the downtrend 1.5016, and further decline to 1.1500 area is still possible after consolidation.

gbpusd chart