GBPUSD Weekly Analysis – July 17, 2016

GBPUSD remains in downtrend from 1.5016, the rise from 1.2795 is likely consolidation of the downtrend. Further decline could be expected after consolidation, and next target would be at 1.2000. Near term resistance is at 1.3550, as long as this level holds, the downtrend will continue.

gbpusd chart