Midday update for the GBPUSD 23-01-2023

The GBPUSD pair faces solid resistance at 1.2440 level to show some slight bearish bias, and it might test the intraday bullish channel’s support line before turning back to rise again.

In general, we will continue to suggest the bullish trend for the upcoming period as long as 1.2340 level remains intact, reminding you that breaching 1.2440 is required to confirm rallying towards 1.2590 as a next main station.

The expected trading range for today is between 1.2380 support and 1.2530 resistance.

The expected trend for today: Bullish