GBPUSD Daily Analysis – January 25, 2018

GBPUSD extended its upside movement from 1.3458 to as high as 1.4262. As long as the price is above the bullish trend line on the 4-hour chart, the upside movement could be expected to continue and next target would be at 1.4500 area. Near term support is at 1.4170, a breakdown below this level could bring price back towards the bullish trend line, only a clear break below this trend line could signal completion of the uptrend.

GBPUSD 4-hour chart