GBPUSD Weekly Analysis – May 15, 2016

GBPUSD is now in downtrend from 1.4769. Further decline could be expected over the next several weeks, and next target would be at 1.4000 area. Resistance levels are at 1.4550 and 1.4769, only break above these levels could trigger another rise towards 1.5000.

gbpusd chart