GBPUSD Daily Analysis – February 5, 2019

GBPUSD broke below the support of the bullish trend line on the 4-hour chart, suggesting that the upside movement from 1.2396 had completed at 1.3217 already. Further decline would likely be seen in the coming days and next target would be at 1.2950 area. Resistance is at 1.3160, only break above this level could trigger another rise towards 1.3300.

GBPUSD 4-hour chart