GBPUSD Weekly Analysis – November 17, 2019

GBPUSD moved sideways in a narrow range between 1.2768 and 1.3012. As long as 1.2768 support holds, the sideways movement could be treated as consolidation for the uptrend from 1.1958, further rise towards 1.3200 is still possible after the consolidation. On the downside, a breakdown below 1.2768 support would indicate that the upside movement had completed at 1.3012 already, then further decline could be seen and the target would be at the rising trend line on the daily chart.

GBPUSD daily chart