Daily
At yesterday's trading, the pound/dollar currency pair was held in a relatively narrow price range of 1.3610-1.3700, while the day closed with a slight decline in the British pound against the US dollar. Nevertheless, a confident and fairly strong growth at the auction on January 12 keeps a high probability of continuing the upward scenario for this currency pair. However, for this, the bulls in the British currency need a true breakdown of the strong technical level and the key resistance at 1.3700. In the case of a confident overcoming of this mark, the pound/dollar pair will be able to continue the rise, the targets of which will be 1.3740, 1.3780, 1.3800, and 1.3820. If yesterday's lows are renewed at 1.3610 and a true breakdown of the level of 1.3600, the upward prospects of the "Briton" will be in doubt, and the GBP/USD pair will most likely continue to decline to 1.3570, 1.3530, and the psychological level 1.3500, where it will decide the future direction of the British pound paired with the US dollar.
If we abstract from the description of the technical picture for GBP/USD for a while, it is necessary to note a very important and historical event that took place in the United States of America. The House of Representatives of the US Congress still passed a resolution on the impeachment of Donald Trump, who became the first president to be removed from power before the end of his term of office and, thus, made history. Yes, it is worth recognizing that Trump was by no means such a president as all his predecessors, thanks to his irrepressible peculiar character, demeanor, and harsh statements. Apparently, he drank a lot of blood not only from Democrats but also from his fellow Republicans. Now on the further political career of the 45th president of the United States, he will no longer be able to run for this position.
Now about the events of today, where it is worth noting the speech of the chairman of the US Federal Reserve Jerome Powell, and from the fundamental reports, the initial applications of Americans for unemployment benefits, as well as the import price index. It is quite possible that we will hear something new from Powell, but we still do not have to wait for drastic changes. It's no secret that the relationship between Republicans, Trump, and Powell was not the easiest, and Trump was not entirely happy with the monetary policy pursued by his own appointee Jerome Powell. However, with whom did Donald Trump have a simple relationship?
H4
As you can see on the four-hour chart, at today's trading (at the end of the article), the GBP/USD currency pair is trying to resume growth and shows a moderate strengthening. I recommend that you focus all your attention on the key mark of 1.3700 in the current situation. If the bulls on the pound manage to break through this resistance level and gain a foothold above, then on the rollback to the broken mark, you can try buying with the goals indicated above. If there are bearish reversal patterns of candlestick analysis under 1.3700 on this or hourly charts, we try to sell the pair with the nearest targets in the area of 1.3640-1.3615.
