GBP/USD currency pair analysis 25.01.2022

The GBP/USD pair traded with strong negativity yesterday, to achieve our first extended target of 1.3460 and try to break it, affected by the previously completed double top pattern, waiting for more decline to visit 1.3400 as a next corrective station.

Therefore, we expect the bearish bias to continue in the upcoming sessions, bearing in mind that stability below 1.3530 represents the first condition for the continuation of the expected decline.

The expected trading range for today is between 1.3390 support and 1.3540 resistance.

The forecast general trend for today: Bearish.

Author: GC
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