GBPUSD Weekly Analysis – November 27, 2016

GBPUSD is in consolidation of the downtrend from 1.5016. Range trading between 1.1946 and 1.2700 would likely be seen over the next several weeks. Resistance is at 1.2700, as long as this level holds, the downtrend could be expected to resume, and further decline to 1.1000 area is still possible.

gbpusd chart