GBPUSD Trends Indecisively as Expectations Weighed in for the Short-Term

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GBPUSD Price Analysis – January 12

The FX pair doesn’t display a concise predisposition, exiting around 1.3058 level for the third week straight. It exists in the narrowing triangle and proposes that GBPUSD can further dispel more energy at the lower boundary of the level in the exchanging range of 1.29-1.35 level.

Key Levels
Resistance levels: 1.3514, 1.3280, 1.3130
Support levels: 1.2905, 1.2582, 1.1958

GBPUSD Long term Trend: Bullish

In the larger structure, it is anticipated that growth from the level at 1.1958 low may continue higher to retest the level at a key resistance of 1.3514. The reaction from there may determine if it is in consolidation from the low.

However, a steady break of 1.3514 level may indicate a long-term bullish reversal. In any case, at the moment, the trend may stay bullish, while the resistance level at 1.2582 stays at the same level.

GBPUSD Short term Trend: Ranging

GBPJPY fell sharply last week as the fall from 1.3280 level continued. The initial bias is slightly weak for the fresh week towards the support test on the level at 1.2905.

Meanwhile, a steady breakthrough of the rollback on the level of 1.1958 to 1.3514 at the level of 1.2967 may approach the rollback of the level of 1.2506. On the other hand, breaking the level at 1.3280 may lead to re-testing the level at the high of 1.3514.

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