GBPUSD Daily Analysis – February 8, 2018

GBPUSD remains in the downtrend from 1.4345, the bounce from 1.3836 is likely consolidation of the downtrend. Further decline could be expected after the consolidation and next target would be at 1.3650 area. Resistance is at 1.4080, only break above this level could bring price back towards 1.4345 resistance.

GBPUSD 4-hour chart