GBPUSD Intraday Technical Forecast


Cable keeps its bullish momentum intact as sentiment remains underpinned by the US political worries induced sell-off in the US dollar across the board. Read on and find out more on the 22 January GBPUSD Intraday Technical Forecast.

22 January, OctaFX – The British pound has started to turn lower against the U.S dollar, as the U.S dollar index start to recover from three-year trading-lows. The GBPUSD pair is currently trading around the 1.3860 level, with intraday sellers largely in control while price-action holds below the key 1.3880 level.

With a lack of high-impacting macro-economic data from the United Kingdom on Monday, sterling traders are likely to focus on negotiations centering around the current United States government shutdown.

22 January GBPUSD Intraday Technical Forecast: Selling While Below 1.3880

  • The GBPUSD pair remains intraday bearish while trading below the 1.3880 level, key downside targets for the pair are 1.3810 and 1.3720.

  • Should price-action on the GBPUSD pair start to trade above the 1.3880 level, attention may shift back toward the 1.3944 and 1.4000 resistance levels.

Disclaimer

This article about  22 January GBPUSD Intraday Technical Forecast was provided by OctaFX. It should substitute for professional marketing consulting. Forex margin trading involves substantial risks. Forex margin trading exposes participants to risks including, but not limited to, changes in political conditions, economic factors, and other factors. All of which may substantially affect the price or availability of one or more foreign currencies.

Also, speculative trading is a challenging prospect, even to those with market experience and an understanding of the risks involved.

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