GBPUSD Weekly Analysis – December 15, 2019

GBPUSD’s upside movement from 1.1958 extended to as high as 1.3514. As long as the price is in the rising price channel on the daily chart, the upside movement could be expected to continue and next target would be at 1.3800 area. On the downside, a clear break below the channel support would indicate that the upside movement had completed at 1.3514 already, then the pair would find support at around 1.2870.

GBPUSD daily chart