GBPUSD Weekly Analysis – December 4, 2016

GBPUSD broke above 1.2700 resistance, indicating that the downtrend from 1.5016 had completed at 1.1946 already. Further rally could be expected over the next several weeks, and next target would be at 1.3500 area. Support is at the upward trend line on daily chart, as long as the trend line support holds, the uptrend will continue.

gbpusd chart