GBPUSD Weekly Analysis – December 1, 2019

GBPUSD continued its sideways movement in a trading range between 1.2768 and 1.3012. The sideways move is likely consolidation for the uptrend from 1.1958. As long as 1.2768 support holds, the upside movement could be expected to resume, and further rise to 1.3200 area is still possible after the consolidation. Only a breakdown below 1.2768 support could bring the price back towards the bullish trend line on the daily chart.

GBPUSD daily chart