GBPUSD Daily Analysis – January 15, 2018

GBPUSD broke above 1.3612 resistance and extended its upside movement to as high as 1.3748. Further rise is still possible in a couple of days and next target would be at 1.4000 area. Near term support is at 1.3680, as long as this level holds, the uptrend from 1.3458 will continue. On the downside, a breakdown below 1.3680 support will indicate that consolidation for the uptrend is underway, then the pair would find next support level at 1.3600 area.

GBPUSD 4-hour chart