GBPUSD Daily Analysis – January 28, 2020

GBPUSD is facing the support of the rising price channel on the 4-hour chart. As long as the channel support holds, the pullback from 1.3173 could be treated as consolidation for the uptrend from 1.2954, another rise towards 1.3200 could be expected after the consolidation. On the downside, a breakdown below the channel support would indicate that the upside movement had completed at 1.3173 already, then the following downside movement could take the price to 1.2800 area.

GBPUSD 4-hour chart