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FX.co ★ Technical Analysis of Daily Price Movement of GBP/USD Main Currency Pairs, Tuesday January 02, 2024.

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Forex Analysis:::2024-01-02T04:09:41

Technical Analysis of Daily Price Movement of GBP/USD Main Currency Pairs, Tuesday January 02, 2024.

Technical Analysis of Daily Price Movement of GBP/USD Main Currency Pairs, Tuesday January 02, 2024.

If we look on the daily chart of GBP/USD main currency pairs, there is the bullish 123 pattern which followed by a few bullish Ross Hook (RH) as well as followed by the price movements which moves above WMA 30 Shift 2, but because the appearance of deviation pattern between the price movement with MACD indicator as well as the appearance of Bearish Wolfe Waves pattern in a few days ahead, as long as Cable doesn't continute the strengthening, especially cannot break above the level 1,2797, then GBP/USD has the potential to weaken until the level of 1,2611 as the first target and level 1,2500 as the second target.

(Disclaimer)

Analyst InstaForex
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