Technical analysis of GBP/USD 12/31/2021
Currency pair British Pound to US Dollar GBP/USD shows an upward correction within the descending channel on the (1D) chart.
At the moment, the quotes are in the area of the resistance level 1.3500. If this resistance is broken, the technical picture suggests that the growth will continue to the area of 1.3580 – 1.3600 (38.2% Fib), (MA100).
If the pair fails to gain a foothold above the resistance level of 1.3500, this will mean the end of the correction and the resumption of the downtrend to the annual minimum towards the level of 1.3170.
Created by Joshua Hayn