GBPUSD Weekly Analysis – August 9, 2015

GBPUSD stays in a trading range between 1.5170 and 1.5929. As long as 1.5170 support holds, the price action in the range could be treated as consolidation of the uptrend from 1.4565, another rise towards 1.6500 could be expected after consolidation. Only break below 1.5170 support could signal completion of the uptrend.

gbpusd chart