GBPUSD Weekly Analysis – February 4, 2018

GBPUSD remains in the uptrend from 1.3027, the fall from 1.4345 could be treated as consolidation of the uptrend. Near term support is at 1.3979. As long as this level holds, the uptrend could be expected to continue and next target would be at 1.4500. On the downside, a breakdown below 1.3979 support could bring price back towards the bullish trend line on the daily chart. Only a clear break below the trend line support could signal completion of the uptrend.

GBPUSD daily chart