GBPUSD Daily Analysis – January 3, 2018

GBPUSD’s upside movement from 1.3301 extended to as high as 1.3605. Further rise is still possible in a couple of days and next target would be at 1.3700 area. Near term support is at 1.3550, below this level could bring price back towards the bullish trend line on the 4-hour chart. Only a clear break below the trend line support could signal completion of the uptrend.

GBPUSD 4-hour chart