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17.01.201820:22 Forex Analysis & Reviews: Daily analysis of GBP/USD for January 18, 2018

Long-term review

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The pair comatose around the 1.3800 level across the board and looks for a catalyst that helps to boost the bulls in the short-term. The critical mark of 1.3800 should give up in order to allow more gains towards the 1.3846 level ahead of the 1.3979 zone. To the downside, the nearest dynamic support lies at the 200 SMA (H1 chart).

H1 chart's resistance levels: 1.3846 / 1.3979

H1 chart's support levels: 1.3612 / 1.3526

Trading recommendations for today: Based on the H1 chart, buy (long) orders only if the GBP/USD pair breaks a bullish candlestick; the resistance level is at 1.3846589, take profit is at 1.3979 and stop loss is at 1.3714.

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