GBPUSD Daily Analysis – January 23, 2020

GBPUSD broke above the falling trend line on the 4-hour chart, suggesting that the downside movement from 1.3284 had completed at 1.2954 already. Further rally could be expected in a couple of days and next target would be at 1.3250 area. Near term support is at 1.3030, below this level could trigger another fall towards 1.2800.

GBPUSD 4-hour chart