GBPUSD Daily Analysis – January 22, 2018

GBPUSD extended its upside movement from 1.3458 to as high as 1.3945. The key support is at 1.3741, as long as this level holds, the uptrend could be expected to continue and next target would be at 1.4200 area. On the downside, a breakdown below 1.3741 support will indicate that the uptrend had completed at 1.3945 already, then deeper decline to 1.3620 area could be seen.

GBPUSD 4-hour chart