GBPUSD Daily Analysis – January 30, 2017

GBPUSD stays in the upward price channel on 4-hour chart, and remains in uptrend from 1.1986. As long as the channel support holds, the uptrend could be expected to continue, and next target would be at 1.2800 area. On the downside, a clear break below the channel support will indicate that the uptrend had completed at 1.2673 already, then the following downward movement could bring price back to test 1.1986 support.

gbpusd chart