GBPUSD Daily Analysis – January 27, 2020

GBPUSD stays in a rising price channel on the 4-hour chart and remains in the uptrend from 1.2954. As long as the channel support holds the pullback from 1.3173 could be treated as consolidation for the uptrend and one more rise to 1.3200 area is possible after the consolidation. On the downside, a breakdown below the bottom of the channel would indicate that the upside movement had completed at 1.3173 already, then further decline towards 1.2800 could be seen.

GBPUSD 4-hour chart