GBP/USD Going Lower as the Trend Line Breaks
January 18, 2022
GBP/USD Technical Analysis
- GBP/USD is bearish
- Close below D L3 is bearish
- W L3 is support
- D L5 is the first target
DAILY CHART GBP/USD
- Swing low
- Swing high
- First target
- 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.
