GBPUSD Daily Analysis – January 11, 2018

GBPUSD broke below 1.3494 support, suggesting that the upside movement from 1.3301 had completed at 1.3612 already. Further decline would likely be seen in a couple of days and next target would be at 1.3420 area, followed by 1.3301 support. Near term resistance levels are at 1.3565 and 1.3612, only break above these levels could trigger another rise towards 1.3657 (Sep 20 high) resistance.

GBPUSD 4-hour chart