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24.01.201823:18 Forex Analysis & Reviews: Daily analysis of GBP/USD for January 25, 2018

Long-term review

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GBP/USD has been rallying across the board and it managed to break above the 1.4060 level. The 200 SMA continues to guide the path in the short-term and that's allowing more gains. The resistance level of 1.4181 seems to be a strong level to crack and if it manages to break above it, then the next target would be the 1.4280 level.

H1 chart's resistance levels: 1.4181 / 1.4280

H1 chart's support levels: 1.4060 / 1.3937

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 1.4181, take profit is at 1.4280 and stop loss is at 1.3847.

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