empty
 
 
22.01.2021 09:30 AM
Technical analysis of GBP/USD for January 22, 2021

This image is no longer relevant

Overview :

The GBP/USD pair continues to move upwards from the level of 1.3608.

The pair rose from the level of 1.3660 (the level of 1.3660 coincides with a ratio of 61.8% Fibonacci retracement) to a top around 1.3745. However, the trend moved downside and the structure of a fall does look corrective - close at 1.3670.

Today, the first support level is seen at 1.3608 followed by 1.525, while daily resistance 1 is seen at 1.3745.

According to the previous events, the GBP/USD pair is still moving between the levels of 1.3608 and 1.3790; for that we expect a range of 182 pips (1.3790 - 1.3608).

On the one-hour chart, immediate resistance is seen at 1.3745, which coincides with the highest price in last five days. Currently, the price is moving in a bullish channel.

This is confirmed by the RSI indicator signaling that we are still in a bullish trending market. The price is still above the moving average (100).

Therefore, if the trend is able to break out through the first resistance level of 1.3745, we should see the pair climbing towards the daily resistance at 1.3790 to test it. It would also be wise to consider where to place stop loss; this should be set below the second support of 1.3523.

Forecast :

Amid the previous events, the GBP/USD pair is still moving between the levels of 1.3608 and 1.3790. The major support can be found at 1.3608 providing a clear signal to sell with a target seen at 1.3790. If the trend breaks the minor resistance at 1.3790, the pair will move upwards continuing the bullish trend development to the level of 1.3790 in order to test the daily support 2. Overall, we still prefer the bullish scenario which suggests that the pair will stay above the zone of 1.3608.

通过InstaForex赚取加密货币汇率变动的收益。
下载MetaTrader 4并开启您的第一笔交易。
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $8000 more!
    In March we raffle $8000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 100% Bonus
    Your unique opportunity to get a 100% bonus on your deposit
    GET BONUS
  • 55% Bonus
    Apply for a 55% bonus on your every deposit
    GET BONUS
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS

推荐文章

现在无法通话?
提出您的问题,用 在线帮助.
Widget callback