Forex Analysis & Reviews: Technical Analysis of Daily Price Movement of GBP/USD Main Currency Pair, Tuesday Januari 03 2023

On the daily chart, the main currency pair GBP/USD appears to be moving in the Bearish channel and below the Moving Average. Just testing the Bearish Breaker Block level at 1.2106, Cable has the potential to depreciate in the next few days to the 1.1992 level and if this level is successfully penetrated by GBP/USD The USD has the potential to fall down to the 1.0923 level as long as it is on its way to the targets. There will be no significant upward correction, especially if it is broken above the 1.2426 level because if this level is successfully broken above, it will make all the scenarios previously described cancel automatically.

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.

Analysis are provided by InstaForex

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