GBPUSD Weekly Analysis – July 16, 2017

GBPUSD broke above 1.3047 resistance, indicating that the uptrend from 1.1987 has resumed. Further rise could be expected in a couple of weeks and next target would be at 1.3500 area. Support is at 1.2811, only a breakdown below this level could trigger another fall towards 1.2000.

GBPUSD daily chart