GBPUSD Daily Analysis – February 6, 2019

GBPUSD’s downside movement from 1.3217 extended to as low as 1.2924. Further decline is still possible after a minor consolidation and next target would be at 1.2850 area. Near term resistance is at 1.2990, above this level could bring the price back towards the falling trend line on the 4-hour chart.

GBPUSD 4-hour chart