GBPUSD Daily Analysis – January 15, 2020

GBPUSD’s downside movement from 1.3284 extended to as low as 1.2954. Further decline is still possible and next target would be at 1.2900 area. Resistance is located at the bearish trend line on the 4-hour chart, a breakout of the trend line resistance could trigger another rise towards 1.3400.

GBPUSD 4-hour chart