empty
 
 

20.01.202220:45 Forex Analysis & Reviews: Technical analysis of GBP/USD for January 20, 2022

Exchange Rates 20.01.2022 analysis

Overview :

The GBP/USD pair broke resistance which turned to strong support at the level of 1.3572 yesterday. The level of 1.3572 coincides with a double bottom, which is expected to act as major support today. The Relative Strength Index (RSI) is considered overbought because it is above 70. The RSI is still signaling that the trend is upward as it is still strong above the moving average (100). This suggests the pair will probably go up in coming hours. Accordingly, the market is likely to show signs of a bullish trend. The level of 1.3748 will act as strong resistance and the double top is already set at the point of 1.3748. In other words, buy orders are recommended above 1.3572 with the first target at the level of 1.3748 (the double top). From this point, the pair is likely to begin an ascending movement to the point of 1.3748 and further to the level of 1.3790. On the other hand, if a breakout happens at the support level of 1.3536, then this scenario may become invalidated.

Forecast :

According to the previous events, the GBP/USD pair is still moving between the levels of 1.3572 and 1.3748; for that we expect a range of 176 pips (1.3748 - 1.3572).

If the GBP/USD pair fails to break through the resistance level of 1.3748, the market will decline further to 1.3536. This would suggest a bearish market because the RSI indicator is still in a positive area and does not show any trend-reversal signs. The pair is expected to drop lower towards at least 1.3492 with a view to test the last bearish wave.

*Analisis pasar yang diposting disini dimaksudkan untuk meningkatkan pengetahuan Anda namun tidak untuk memberi instruksi trading.

Manfaat dari rekomendasi para analis saat ini
Akun trading teratas
Buka akun trading

Tinjauan analitis InstaForex akan membuat Anda menyadari sepenuhnya tren pasar! Sebagai klien InstaForex, Anda dilengkapi dengan sejumlah besar layanan gratis untuk trading yang efisien.




  • Trade Wise, Win Devise
    Top up akun anda dengan dana minimal $500, daftar kontes, dan dapatkan peluang untuk memenangkan perangkat seluler.
    GABUNG KONTES
  • Ferrari from InstaForex
    Top up akun anda dengan dana minimal $1.000
    gabung kontes dan menangkan Ferrari
    F8 Tributo
    GABUNG KONTES
  • Chancy Deposit
    Deposit akun anda dengan $3.000 dan menangkan $1.000
    GABUNG KONTES
  • 100% Bonus
    Kesempatan langka untuk mendapatkan bonus 100% pada deposit anda
    DAPATKAN BONUS
  • 55% Bonus
    Ajukan bonus 55% pada setiap deposit anda
    DAPATKAN BONUS
  • 30% Bonus
    Raih bonus 30% setiap kali anda top up
    DAPATKAN BONUS
Tidak bisa bicara sekarang?
Tanyakan pertanyaan anda lewat chat.