GBPUSD Daily Analysis – May 18, 2017

GBPUSD is facing the resistance of 1.2988. A break of this level will indicate that the bullish movement from 1.2365 has resumed, then another rise towards 1.3100 could be seen. On the other side, as long as 1.2988 resistance holds, the sideways movement in a range between 1.2831 and 1.2988 could be expected to continue. Support is at 1.2831, only a breakdown below this level could signal completion of the upward movement.

GBPUSD chart