The GBP/USD hits the second target – Analysis – 25/01/2022

gbp2The GBPUSD pair traded with strong negativity yesterday to achieve our first extended target at 1.3460 and attempts to break it, affected by the previously completed double top pattern, waiting for more decline to visit 1.3400 as a next correctional station.

Therefore, we expect the continuation of the bearish bias in the upcoming sessions, taking into consideration that holding below 1.3530 represents the first condition to continue the expected decline.

The expected trading range for today is between 1.3390 support and 1.3540 resistance.

The expected trend for today: Bearish

Origin: Economies

Leave a Reply