GBPUSD Weekly Analysis – May 20, 2018

No changed in our view, GBPUSD remains in the downtrend from 1.4376. As long as 1.3617 key resistance holds, the downside movement could be expected to continue and next target would be at 1.3100 area. On the upside, a breakout of 1.3617 resistance would suggest that the downside movement is complete, then the following rally could take the price to 1.3850 area.

GBPUSD daily chart