Technical analysis of GBP/USD 12/01/2022
The GBP/USD currency pair on the (1D) chart shows an upward correction within a downtrend. At the moment the price is consolidating around the resistance area of 1.2300 (50% Fibo), (MA200).
If the pair manages to consolidate above the level of 1.2300, technically it will mean the development of an upward correction with a target in the area of 1.2750 (61.8% Fibo).
A signal to cancel the option to continue the upward correction will be a decrease in quotes below the low of 1.0333, which will indicate a continuation of the downtrend.
Created by Joshua Hayn