GBPUSD Weekly Analysis – February 16, 2020

GBPUSD stays in a falling price channel on the daily chart and remains in the downtrend from 1.3514. As long as the channel resistance holds, the downside movement could be expected to continue and next target would be at 1.2750 area. On the upside, a breakout of the channel resistance would indicate that the downside movement had completed at 1.2871 already, then another rise towards 1.3800 could be seen.

GBPUSD daily chart