GBPUSD Retreats Beneath the Level at 1.31 Amid Greenback’s Resilience

GBPUSD Retreats Beneath the Level at 1.31 Amid Greenback’s Resilience

GBPUSD Price Analysis – January 26

GBPUSD is trading beneath the 1.31 level after reaching a new high of 1.3172, as the dollar’s resilience did not allow the pair to gain momentum. The US dollar is gaining strength in all directions.

Key Levels
Resistance Levels: 1.3600, 1.3514, 1.3280
Support Levels: 1.3000, 1.2582, 1.1958

GBPUSD Long term Trend: Bullish

GBPUSD recently recovered to the level of 1.3172 but has since lost momentum. This week’s initial bias is neutral. On the other hand, in the past, the level of 1.3172 may give way to the resistance level of 1.3280.

A breakdown there may approach the test at 1.3514 level. On the other hand, beneath the level of 1.3050, repeated testing of the recovery part of the level of 1.1958 to 1.3514 at 1.2900 levels may occur.

GBPUSD Short term Trend: Bullish

Estimated intraday bias in GBPUSD may initially become neutral with a temporary top already structured at 1.3172 level. Further growth is moderately favored, while the immediate support level of 1.3050 remains unchanged.

The Fx pair remains bullish, trading past the level of 1.3072, a critical barrier is found at levels of 1.3118 and 1.3172. Besides, the Fx pair remains bearish, trading past the 1.3050 level, critical support has been found at 1.3000 and 1.2970 level.

Note: Learn2Trade.com is not a financial advisor. Do your research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing results

  • Broker
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
9
  • Award-winning Cryptocurrency trading platform
  • 14 Cryptoassets available to invest in
  • FCA & Cysec regulated
$200 Min Deposit
9.8

Highly volatile unregulated investment products. No EU investor protection.

  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$100 Min Deposit
9.8
  • Trade top Cryptos such as Bitcoin, Litecoin and Ethereum plus more
  • Zero commissions and no bank fees on transactions
  • Around the clock service with support in 14 languages
$100 Min Deposit
8.5
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
9.8
Share with other traders!

Author : Azeez Mustapha

Avatar

Azeez Mustapha is an experienced author, trader, markets analyst, signals strategist, and funds-manager.