GBPUSD reached resistance (1D) 5 Jan 2022
Updated
GBPUSD has been seriously on the rise, but can it break resistance areas and the channel's upper bound?
Where do you guys think it is headed?
Where do you guys think it is headed?
Comment
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The price broke the horizontal resistance and the channel (1D). This is serious, but I wouldn't rush in any position trades as of yet.Trade active
The price made a serious breakout from the downtrend channel and also broke key horizontal resistances. Experts say that a bullish flag was formed on the daily chart which is going to propel the price into the 1.4000 area and further.Trade active
The FED did not increase interest rates but Powell had a moderately hawkish tone. The pound is back in the downtrend channel, if BoE increases interest rates next week then the pound might gain some ground again. However, the British economy is doing worse than the US economy.
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