GBP/USD analysis for January 23, 2019 - ConsultFX

GBP/USD analysis for January 23, 2019


As I expected the GBP/USD pair traded higher and met my first yesterday's target at the price of 1.3000. The momentum is still strong on the upside and GBP/USD is going towards the second objective target at the price of 1.3080. The upward Andrew Pitchfork channel is giving us well defined levels of support and resistance and we can expect potential test of the median line (middle line).

Trading recommendations for today: We are still long GBP/USD from 1.2900 but we are adding one long position at 1.3016 due to the breakout of the resistance. We are also rising SL on the first position to 1.3070 and on that way secure the profit of 70 pips.

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