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GBP/USD Going Lower as The Trend Line Breaks

By:Nenad Kerkez
Published: Jan 18, 2022, 11:19 UTC•1min read
The GBP/USD is bearish. After the US holiday – Martin Luther King Day we should expect bigger volatility.
Mentioned in Article
GBP/USD
$1.24917
+1.22%

GBP/USD Technical Analysis

  • GBP/USD is bearish
  • Close below D L3 is bearish
  • W L3 is support
  • D L5 is the first target

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DAILY CHART GBP/USD

  1. Swing low
  2. Swing high
  3. First target
  4. Final target

The GBP/USD is bearish. After the US holiday – Martin Luther King Day we should expect bigger volatility. The trend is to the downside and we should see the move down. A close below the D L4 1.3618 should move the price lower to D L5 camarilla 1.3594. This is the intraday target. However, on an extended move down below the D L5, we should see the W L4 hit which is 1.3553. A move up is not expected unless the trend line breaks to the upside. The pound imminent target is the D L5.

For a look at all of today’s economic events, check out our economic calendar.

Cheers and safe trading,

Nenad

 

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