GBPUSD Daily Analysis – February 7, 2018

GBPUSD’s downside movement from 1.4345 extended to as low as 1.3836. Further decline is still possible after a minor consolidation and next target would be at 1.3650 area. Resistance is at 1.4080, only break above this level could trigger another rise to test 1.4345 resistance.

GBPUSD 4-hour chart