GBPUSD Daily Analysis – January 8, 2020

GBPUSD moved sideways in a trading range between 1.3053 and 1.3284. As long as 1.3053 support holds, the upside movement from 1.2905 could be expected to resume, and further rise to 1.3400 area is still possible. On the downside, a breakdown below 1.3053 support would indicate that the upside movement had completed at 1.3284 already, then another fall towards 1.2900 could be seen.

GBPUSD 4-hour chart