GBPUSD Daily Analysis – January 3, 2020

GBPUSD broke below the rising trend line on the 4-hour chart, suggesting that the upside movement from 1.2905 had completed at 1.3284 already. Further decline could be expected in a couple of days and next target would be at 1.2900. Near term resistance is at 1.3230, only break above this level could trigger another rise towards 1.3400.

GBPUSD 4-hour chart