GBPUSD Daily Forecast Jan 09 2020

Pound dollar 689875 1

GBPUSD: Under Pressure But Around Critical Support!

As long as 1.3217/1.3167 resistance holds on a daily closing basis. The GBPUSD remains in a corrective pullback mode and further down couldn’t be ruled out. Support comes at 1.3080 levels, a halt is likely but a cut would open 1.2990 next, further down, support comes in 1.2930 levels.

Note: a daily closing below 1.3112 will keep pushing on 1.3080 levels. A failure to close below 1.3080 may bring a sudden rise/spike to the upside…

On the upside, immediate resistance comes at 1.3112 levels. Above that level sees limited gains below 1.3167/1.3217 where another fall is very likely. Only above 1.3217 will restore the upside momentum and pave the way to 1.3272/1.3333 levels…

In conclusion: The GBPUSD sees corrective fall threats below 1.3217 levels…

Support: 1.3080, 1.2990, 1.2930, 1.2850

Resistance: 1.3112, 1.3167, 1.3217, 1.3272

Key data/events which may affect GBPUSD today:
  • BoE Gov Carney Speaks at 09:30 GMT. (volatility is expected).


GBPUSD Daily Forecast Jan 09 2020