The US dollar index sank to its lowest trading lowest in over 3-years, which have benefitted Cable. OctaFX shared its 15 January GBPUSD Bullish Technical Analysis for more details on the strongly bullish move of the pair.
15 January, OctaFX – The British pound has moved to yet another yearly price-high against the U.S dollar, climbing above the 1.3700 mark, and reaching 1.3751 during the opening trading session of the week. The move higher in the GBPUSD has been sparked by the falling value of the greenback, with the U.S dollar index sinking to its lowest trading lowest in over 3-years, touching 90.60.
Going forward, the key upside levels to watch are 1.3757 and the 1.3800 on the GBPUSD pair, while the 1.3690 level becomes former resistance now turned near-term support.
15 January GBPUSD Bullish Technical Analysis
The GBPUSD pair remains strongly bullish while trading above the 1.3655 technical level, key upside resistance is now found at 1.3757 and 1.3800.
Should price-action on the GBPUSD pair move below the 1.3690 level, critical daily support is now located at the 1.3655 level.
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