The GBPUSD hits the first target - Analysis - 06-01-2022

The GBPUSD pair managed to achieve our first waited target at 1.3565 and attempted to breach it, but it couldn’t manage to hold for long time above it, to trade negatively and head towards potential test to the key support 1.3485.

Therefore, the bearish bias will be suggested temporarily now, waiting to resume the bullish trend after testing the mentioned support, noting that breaking this support will press on the price to achieve more decline and head towards 1.3410 as a next negative station, while breaching 1.3565 represents the key to resume the bullish track within the bullish channel that appears on the chart.

The expected trading range for today is between 1.3460 support and 1.3600 resistance.

The expected trend for today: Bearish temporarily