GBPUSD Daily Analysis – January 26, 2018

GBPUSD remains in the uptrend from 1.3458. As long as the price is above the rising trend line on the 4-hour chart, the fall from 1.4345 could be treated as consolidation of the uptrend and another rise towards 1.4500 is still possible after the consolidation. Near term resistance is at 1.4345, a breakout of this level could signal resumption of the uptrend. On the downside, a clear break below the rising trend line will suggest that the uptrend had completed at 1.4345 already, then the pair would find next support level at around 1.3850.

GBPUSD 4-hour chart