GBPUSD Daily Analysis – January 9, 2020

GBPUSD continued its sideways movement in a trading range between 1.3053 and 1.3284. The sideways move is likely consolidation for the uptrend from 1.2905, further rise to 1.3400 area is possible after the consolidation. Near term support is at 1.3053, a breakdown below this level could trigger another fall towards 1.2900.

GBPUSD 4-hour chart