GBPUSD Weekly Analysis – June 3, 2017

GBPUSD is facing the key support at 1.2756. A breakdown below this level will indicate that the upward movement from 1.2109 had completed at 1.3047 already, this could trigger another fall to test 1.1946 support. On the upside, as long as 1.2756 support holds, the fall from 1.3047 could be treated as consolidation of the uptrend from 1.2109, further rise could be expected after the consolidation and next target would be at around 1.3300.

GBPUSD Daily Chart