GBPUSD Daily Analysis – February 5, 2018

GBPUSD continued its sideways movement in a trading range between 1.3979 and 1.4345. As long as the price is above 1.3979, the sideways movement could be treated as consolidation of the uptrend from 1.3301 and another rise towards 1.4500 is still possible after the consolidation. On the downside, a breakdown below 1.3979 support will suggest that the uptrend had completed at 1.4345 already, then the pair would find support at around 1.3800.

GBPUSD 4-hour chart