Technical Analysis of Daily Price Movement of GBP/USD Main Currency Pairs, Wednesday, January 10 2024.

On the daily chart, the main currency pair GBP/USD is visible even though it is currently moving in a Bullish channel, but due to its failure to breaks above the last Ross Hook (RH) level, including the appearance of a deviation pattern in price movements with the Stochastic Oscillator indicator, in the next few days as long as there is no there will be continued strengthening on The Cable, especially at level 1.2826, which is a sign that strengthening will continue, then this main currency pair will weaken down to test level 1.2610, if this level is successfully penetrated downwards then there will be confirmation of a reversal in the direction of movement from what was previously strong. The level will weaken so that level 1.2498 will be the main target to aim for and level 1.2190 will be the secondary target if momentum and volatility support it.

(Disclaimer)