GBPUSD Daily Analysis – February 20, 2018

GBPUSD is now in uptrend from 1.3764, the fall from 1.4144 is likely correction for the uptrend. Near term support is at 1.3935, as long as this level holds, the uptrend could be expected to resume and another rise towards 1.4300 is still possible after the corrective pullback. Near term resistance is at 1.4050, a break of this level could take price to test 1.4144 resistance. Above this level could signal resumption of the uptrend. On the downside, a breakdown below 1.3935 would suggest that the upside movement had completed at 1.4144 already, then deeper decline towards 1.3764 support could be seen.

GBPUSD 4-hour chart