GBPUSD Weekly Analysis – March 31, 2019

GBPUSD continued its sideways movement in a trading range between 1.2960 and 1.3381. Key support is at 1.2960, as long as this level holds, the sideways movement could be treated as consolidation for the uptrend from 1.2396, further rise to 1.3600 area is still possible after the consolidation. On the downside, a breakdown below 1.2960 support would indicate that the upside movement had completed at 1.3381 already, then deeper decline towards 1.2600 area could be seen.

GBPUSD daily chart