GBPUSD Daily Analysis – February 4, 2019

GBPUSD is facing the support of the bullish trend line on the 4-hour chart. As long as the trend line support holds, the fall from 1.3217 could be treated as consolidation for the uptrend from 1.2396, another rise towards 1.3300 could be expected after the consolidation. However, a breakdown below the trend line support would indicate that the upside move had completed at 1.3217 already, then the pair would find next support at around 1.2950.

GBPUSD 4-hour chart