GBPUSD Weekly Analysis – May 31, 2015

No changed in our view, GBPUSD remains in uptrend from 1.4565, the pullback from 1.5814 would possibly be correction of the uptrend. Support is at 1.5080, as long as this level holds, the uptrend could be expected to resume, and another rise towards 1.6500 is still possible. However, a breakdown below 1.5080 support will signal completion of the uptrend, then the following downward movement could bring price to 1.4000 zone.

gbpusd chart