GBPUSD Daily Analysis – February 7, 2019

GBPUSD stays in a falling price channel on the 4-hour chart. As long as the price is in the channel, the downside movement could be expected to continue and next target would be at 1.2850 area. Near term resistance is at 1.2980, a break of this level could bring the price back to the top of the channel.

GBPUSD 4-hour chart