GBPUSD Weekly Analysis – July 10, 2016

GBPUSD’s downward movement from 1.5016 extended to as low as 1.2795. Further decline could be expected after a minor consolidation, and next target would be at 1.2000 area. Near term resistance is at 1.3550, as long as this level holds, the downtrend will continue.

gbpusd chart