empty
 
 
30.01.2023 05:09 AM
Technical Analysis of Daily price movement of GBP/USD Main Currency Pairs, Monday January 30, 2023

This image is no longer relevant

If we look at the daily chart for the main GBP/USD currency pair, then there will be some interesting things:

1. The appearance of the Double Top Pattern (Yellow circle).

2. Deviations appear between price movements and the MACD indicator.

3. The appearance of Bearish 123 pattern.

Based on the three facts above then in a few days ahead Cable has the potential to go down trying to break below the level 1,2262 as the main target to be tested if this level managed to break then 1,2086 will be the next target to be tested while on the way to these levels is not a upward correction which exceeds the 1.2447 level because if this level is successfully penetrated upwards then it is very likely that the decline scenario described earlier will become invalid and automatically cancel itself.

(Disclaimer)

GBPUSD
Great Britain Pound vs US Dollar
Select timeframe
5
min
15
min
30
min
1
hour
4
hours
1
day
1
week
Start trade
Start trade
  • 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

Recommended Stories

Technical Analysis of GBP/USD for March 21, 2023

Technical Market Outlook: The GBP/USD pair has broken above the last swing high located at the level of 1.2202 ( now this level will act as the technical support

Sebastian Seliga 09:03 2023-03-21 UTC+2

Technical Analysis of EUR/USD for March 21, 2023

Technical Market Outlook: The EUR/USD pair keeps moving up towards the last swing high located at 1.0760 and the recent local high was made at the level of 1.0731

Sebastian Seliga 09:02 2023-03-21 UTC+2

Indicator analysis: Daily review of GBP/USD on March 21, 2023

The pound-dollar pair may move downward from the level of 1.2272 (closing of yesterday's daily candle) to test 1.2199, the 61.8% pullback level (blue dotted line). When testing this level

Stefan Doll 08:56 2023-03-21 UTC+2

Indicator analysis: Daily review of EUR/USD on March 21, 2023

The euro-dollar pair may move downward from the level of 1.0719 (closing of yesterday's daily candle) with the target of 1.0678, the 23.6% pullback level (yellow dotted line). After that

Stefan Doll 08:46 2023-03-21 UTC+2

EUR/USD analysis for March 21, 2023 - Potential for the breakout of the full flag pattern

Technical analysis: EUR/USD has been trading in the sideways range at the price of 1.0715 but in the upside trending condiiton, which is a sign for potential upside continuation

Petar Jacimovic 08:37 2023-03-21 UTC+2

Analysis of Gold for March 21,.2023 - Potential for the upside continuation

Technical analysis: Gold has been trading in the sideways range at the price of $1.975 but in the upside trending condiiton, which is a sign for potential upside continuation

Petar Jacimovic 08:28 2023-03-21 UTC+2

GBPUSD, H4 | Potential Bearish Reversal from key resistance?

The momentum of the GBP/USD chart is bearish, indicating a possible drop from the 1st resistance level towards the 1st support level. The 1st support level at 1.2194

Dean Leo 07:55 2023-03-21 UTC+2

USDJPY | PBullish Reversal?

Bullish momentum is currently observed on the USD/JPY chart, with the potential for price to rebound from the 1st support level and make its way towards the 1st resistance level

Dean Leo 07:54 2023-03-21 UTC+2

Forecast for EUR/USD on March 21, 2023

Yesterday, the euro was up 53 points, having overcome not only the balance indicator line on the daily chart, but it had also gotten through the collapse of the eurozone

Laurie Bailey 03:58 2023-03-21 UTC+2

Forecast for GBP/USD on March 21, 2023

The British pound gained 96 pips yesterday, reaching and stopping at the MACD daily line. If investors focus on tomorrow's Federal Reserve meeting, at which the rate is expected

Laurie Bailey 03:58 2023-03-21 UTC+2
Can't speak right now?
Ask your question in the chat.