GBPUSD Daily Forecast Jan 23 2020


GBPUSD: Bullish But Hesitates Ahead Of 1.3150 Levels…

The GBPUSD maintained a bullish momentum yesterday, topped at 1.3151 levels, bottomed at 1.3033 levels. Now the focus will turn to 1.3151 levels. The GBPUSD will have to break and hold above the 1.3151 levels on a daily closing basis, to push the market for further upside gains. If seen it will target 1.3210 levels. A halt is very likely, it may top around here. However; above 1.3210 aims the 1.3272 levels, further upside, resistance comes in the 1.3350 levels.

A spike to 1.3200 levels followed by a daily closing below 1.3151. It’s a sign of possible reversal to the downside…

Alternatively, a failure to break and hold above the 1.3151 levels could mean a return to 1.3082/1.3033 levels. A sustained break below 1.3033 will invalid the bullish view and turn the focus on the 1.2985/1.2930 levels.

In conclusion: The GBPUSD sees upside threats above 1.3033 levels with caution…

Support: 1.3117, 1.3082, 1.3033 (main). 1.2985, 1.2930

Resistance: 1.3151, 1.3210, 1.3272, 1.3350, 1.3400

According to the weekly timeframe. The pair is neutral within 1.2975/1.3400 range. A sustained trading – weekly closing – out of this range is needed to give the pair a clear direction…

GBPUSD Daily Forecast Jan 23 2020