GBPUSD Weekly Analysis – May 22, 2016

GBPUSD remains in downtrend from 1.4769, the rise from 1.4332 could be treated as correction of the downtrend. Further decline to test 1.3835 previous low support is possible over the next several weeks. Resistance is at 1.4769, only break above this level could trigger another rise towards 1.5000.

gbpusd chart