GBPUSD Weekly Analysis – January 27, 2019

GBPUSD extended its upside movement from 1.2396 to as high as 1.3217. Further rise is still possible after a minor consolidation and next target would be at 1.3500 area. Near term support is at 1.2970, a breakdown below this level could bring the price back towards 1.2400.

GBPUSD 4-hour chart