GBPUSD Weekly Analysis – April 12, 2020

GBPUSD is now in the uptrend from 1.1409, the pullback from 1.2485 is likely consolidation for the uptrend. Further rise would likely be seen and a break of 1.2485 resistance could trigger further upside movement towards the falling trend line on the daily chart. Near term support is at 1.2160, below this level could bring the price back towards 1.1750.

GBPUSD daily chart