GBPUSD Daily Analysis – January 14, 2020

GBPUSD extended its downside movement from 1.3284 to as low as 1.2960. As long as the price is below the falling trend line on the 4-hour chart, the downside movement could be expected to continue and next target would be at 1.2900 area. On the upside, a breakout of the trend line resistance would indicate that the downtrend is complete, then another rise towards 1.3400 could be seen.

GBPUSD 4-hour chart