Technical analysis of GBP/USD 10/01/2020

The GBP/USD currency pair is in an uptrend on the daily timeframe. The price found support at the level of 1.2700, which coincides with the 38.2% Fibo and the trend line at the moment of crossing MA100 and MA200 on it. MA100 broke below MA200, which gives grounds to assume the continuation and development of the uptrend in the daily period of the chart. The nearest potential target for growth is the area of the September high at 1.3480. A signal to cancel the growth option will be a decline below 1.2700 and a breakdown of the lower line of the uptrend, MA100 and MA200.

GBPUSD_STPDaily

Created by Joshua Hayn

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