GBPUSD Daily Analysis – January 4, 2019

GBPUSD broke above 1.2640 resistance, suggesting that the downside movement from 1.2814 had completed at 1.2396 already. Further rally could be expected in a couple of days and next target would be at 1.2800 area. Near term support is at 1.2590, below this level could bring that price back towards 1.2450.

GBPUSD 4-hour chart