The GBPUSD declines again - Analysis - 28-01-2021

The GBPUSD pair traded with clear negativity to reach the thresholds of the key support 1.3645, and the way seems open to continue the decline to break the bullish channel’s support line and achieve more negative trades.

Now, we prefer staying neutral until we get clearer signal for the next trend, which we will get through breaking 1.3645 support or breaching 1.3715 resistance, noting that breaking the mentioned support will push the price towards 1.3520 followed by 1.3440 areas as main negative targets, while breaching the resistance represents the key to resume the main bullish trend that its next target located at 1.3815.

The expected trading range for today is between 1.3580 support and 1.3760 resistance.

The expected trend for today: Neutral