GBPUSD Weekly Analysis – February 10, 2019

GBPUSD broke below 1.2940 support, suggesting that the upside movement from 1.2396 had completed at 1.3217 already. Deeper decline could be expected in a couple of weeks, and next target would be at 1.2500 area. Resistance levels are at 1.3040 and 1.3217, only break above these levels could trigger another bullish movement towards 1.3500.

GBPUSD daily chart