Since the start of the year the currency fell more than 1.0% but this past week rose 0.4%.
Last week the GBPUSD initially fell but found enough support to turn around and closed in the green near the high of the week, however inside the previous week range suggesting a mildly bullish momentum.
The stochastic is displaying an oversold market and is showing lack of momentum.
The GBPUSD is in a bearish phase and is trading below all three moving averages the 10, 50 and 200 week moving averages.
Expecting an upward move to a weekly resistance at 1.5483 on a break above previous week high at 1.5164 (scenario 1) or a break below previous week low at 1.4894 could push the currency down to the low of the year at 1.4565 (scenario 2).