GBPUSD Weekly Analysis – May 1, 2016

GBPUSD is facing 1.4668 resistance, a break of this level will indicate that the downtrend from 1.5929 (Jun 18, 2015 high) had completed at 1.3835 already, then the following upward movement could bring price to 1.5300 area. On the other side, as long as 1.4668 resistance holds, the rise from 1.3835 would possibly be consolidation of the downtrend, another fall to 1.3000 area is still possible after consolidation.

gbpusd chart