GBPUSD Daily Forecast Jan 22 2020

Pound dollar 986565 1

GBPUSD: Recovering With Caution…

As long as 1.3004 support holds on a daily closing basis. The GBPUSD remains in a recovery mode and further upside couldn’t be ruled out. But recovery above 1.3004 should be limited below 1.3117 levels. Above 1.3117 will extend the recovery to 1.3230 levels.

On the downside, support comes at 1.3004 levels. Below that level will restore the downside momentum and pave the way to 1.2925 levels, further down, support comes at 1.2830 levels.

In conclusion: The GBPUSD sees recovery threats to 1.3045/1.3117 levels…

Support: 1.3004, 1.2925, 1.2830, 1.2725

Resistance: 1.3045, 1.3117, 1.3230, 1.3283

GBPUSD Daily Forecast Jan 22 2020