Technical Analysis for GBPUSD on January 16, 2024:
Main Trend: UP
Details: The GBP/USD pair appears to be receiving strong support at the current level (1.2730) due to:
1. Upward trendline.
2. Daily upward channel.
Technically, the pair is targeting higher levels around (1.2920). Fundamentally, the upcoming news from the UK today and tomorrow (Unemployment rate + Inflation rate) pose a very high risk and could have an extreme impact on the pair.
Main Trend: UP
Details: The GBP/USD pair appears to be receiving strong support at the current level (1.2730) due to:
1. Upward trendline.
2. Daily upward channel.
Technically, the pair is targeting higher levels around (1.2920). Fundamentally, the upcoming news from the UK today and tomorrow (Unemployment rate + Inflation rate) pose a very high risk and could have an extreme impact on the pair.
Trade closed: stop reached
Update :
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.