GBPUSD Weekly Analysis – July 31, 2016

GBPUSD moved sideways in a range between 1.2795 and 1.3480. As long as 1.3800 resistance holds, the price action in the range could be treated as consolidation of the downtrend from 1.5016, and further decline to 1.2000 area is still possible after consolidation.

gbpusd chart