GBPUSD Weekly Analysis – February 11, 2018

GBPUSD’s pullback from 1.4345 extended to as low as 1.3764, facing the support of the bullish trend line on the daily chart. As long as the trend line support holds, the fall from 1.4345 could be treated as consolidation of the uptrend from 1.3027 and another rise towards 1.4500 is still possible after the consolidation. On the downside, a clear break below the trend line support would indicate that the uptrend had completed at 1.4345 already, then next target would be at 1.3300 area.

GBPUSD daily chart