GBPUSD Weekly Analysis – February 2, 2020

GBPUSD continued its sideways movement in a trading range between 1.2905 and 1.3284. The sideways movement is likely consolidation for the uptrend from 1.1958, a break of 1.3284 resistance could trigger further upside movement towards 1.3800. On the downside, a breakdown below 1.2905 support would confirm that the upside movement had completed at 1.3514 already, then the pair would find next support at around 1.2500.

GBPUSD daily chart