GBP/USD - analysis for january 18, 2018

GBP/USD has been trading sideways from the price 1.3805- 1.3820.
Resistance levels:

R1: 1.3845

R2: 1.3877

R3: 1.3945

Support levels:

S1: 1.3776

S2: 1.3745

S3: 1.3694

Our preference: short positions below 1.3900 with targets at 1.3775 & 1.3745 in extension.

Alternative scenario: above 1.3900 look for further upside with 1.3945 & 1.4000 as targets.