GBPUSD Daily Forecast Jan 28 2016

As long as 1.4186 support holds on a daily closing basis, the GBPUSD remains in a recovery mode and further upside couldn’t be ruled out, but upside move above the 1.4186 levels should be contained well by the 1.4351 levels where reversal is very likely, however;  a clear break above this level will extend recovery towards the 1.4500/1.4645 levels…

On the downside, support comes at the 1.4186 levels, a clear break below this level will restore the downside momentum and open the 1.4057 levels ahead of the 1.3900 levels….

Conclusion: The GBPUSD continues to consolidate within 1.4186/1.4351 range…….

GBPUSD Daily Forecast Jan 28 2016