GBPUSD Daily Analysis – February 2, 2018

GBPUSD moved sideways in a trading range between 1.3979 and 1.4345. As long as 1.3979 support holds, the price action in the range could be treated as consolidation for the uptrend from 1.3301 and a breakout of 1.4345 resistance could trigger another rise towards 1.4500. Only a breakdown below 1.3979 support will suggest that the uptrend had completed at 1.4345 already, then the following downside movement could bring price back to 1.3800 area.

GBPUSD 4-hour chart