Wed, Jan 27, 2021 @ 13:22 GMT
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GBP/USD Could Trade Upwards

Yesterday, the GBP/USD exchange rate bounced off the psychological level at 1.3700.

It is likely that the currency pair could gain support from the 55-hour moving average near 1.3680 and extend gains within the following trading session. The pair could target the weekly R2 at 1.3776.

Meanwhile, note that the exchange rate would have to exceed the weekly R1 at 1.3676. If the predetermined resistance holds, the rate could decline to the psychological level at 1.3550 in the short term.

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This overview can be used only for informational purposes. Dukascopy SA is not responsible for any losses arising from any investment based on any recommendation, forecast or other information herein contained.

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