GBPUSD Weekly Analysis – February 9, 2020

GBPUSD broke below 1.2905 support, suggesting that the upside movement from 1.1958 had completed at 1.3514 already. Further decline would likely be seen in a couple of weeks and next target would be at 1.2500 area. Resistance is located at the falling trend line on the daily chart, only a break of the trend line resistance could trigger another rise towards 1.4000.

GBPUSD daily chart