GBPUSD Delivers Another Impulsive Motion

Market Analysis – January 17

GBPUSD is currently undergoing a downward trend, continuing to display a series of impulsive and corrective phases. The latest impulsive movement has resulted in a significant 3.79 percent displacement, further aligning with the prevailing bearish trend.

GBPUSD Key Levels

Demand Zones: 1.20370, 1.18020, 1.11420
Supply Zones: 1.25070, 1.28110, 1.34340

GBPUSD Long-Term Trend: Bearish

The bearish momentum became evident when GBPUSD broke below the previous higher low of 1.30000, signaling the end of the earlier bullish market structure. This shift was reinforced by the 30-period and 50-period Moving Averages, which crossed and now hover above the daily candles, indicating sustained downward pressure.

Within this bearish framework, the price recently retested the 30-period Moving Average, adding further bearish momentum. This retest marked the peak of the correction phase, characterized by pullbacks and delayed price continuation. The dominant trend remains intact, with lower highs and lower lows confirming the ongoing bearish structure.

GBPUSD Short-Term Trend: Bearish

In the short term, GBPUSD recently moved toward the next liquidity pool at 1.20370 but paused at 1.21050. This indicates a temporary slowdown in the impulsive phase. Nevertheless, with bearish pressure still prevailing, the price is likely to continue its downward trajectory and eventually reach the 1.20370 level.

GBPUSD continues to exhibit impulsive movements in line with its broader bearish trend. The current price action suggests potential for further downside, with Moving Averages providing critical insights for both short-term and long-term trading strategies. Traders monitoring GBPUSD alongside forex signals may find opportunities to capitalize on the prevailing market dynamics.

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