GBPUSD Weekly Analysis – January 5, 2020

GBPUSD broke below the rising price channel on the daily chart, suggesting that the upside movement from 1.1958 had completed at 1.3514 already. Further decline could be expected over the next several weeks and next target would be at 1.2600 area. Resistance is at 1.3300, above this level could trigger another rise towards 1.4000.

GBPUSD daily chart