GBPUSD broke bellow the bottom of the price channel on 4-hour chart, indicating that the uptrend from 1.1986 had completed at 1.2673 already. Deeper decline would likely be seen in a couple of days, and next target would be at 1.2200 area. Near term resistance is at 1.2600, only break above this level could trigger another rise towards 1.2800.
![gbpusd chart](http://www.forexcycle.com/archive2017/20170131_GBPUSD_1.png)
For more short term forex analysis and info visit via GBPUSD Daily Analysis - January 31, 2017 . Thanks for your support.
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