The currency pair ended 2017 with a gain of almost 9.5% plus last week rallied more than 1.0% and is in a bullish phase since late November 2017. Last week the GBPUSD rallied with a wide range and closed near the high of the week, in addition the currency pair managed to close above the previous week high, which suggests a strong bullish momentum. Stochastic is showing bullish momentum and is above the 50 mid line. Expecting a downward move to a weekly support at 1.3277 on a bounce from the 2017 high at 1.3655 (scenario 1) however a bounce from the weekly support at 1.3277 may set the currency pair in another rally toward the 2017 high at 1.3655 (scenario 2).