GBPUSD Analysis 25.01.2019

GBPUSD  continues to be on the uptrend as the British Parliament session is on hold this month as legislators discuss plans to exit the EU. Amid a lack of data on the US economy.

At 04:58 GMT, the GBPUSD rose 0.60% to 1.3120 compared to the opening at 1.3062 after the pair reached a high of 1.3137 and a low of 1.3055.

Technical Analysis

The GBPUSD starts today's trading with a significant increase after yesterday's slight decline to resume the expected bullish trend for the coming period and we believe that the way ahead is to achieve our next target at 1.3226.

Stability above 1.2962 is important for the continuation of the positive scenario and ensuring that there is no negative pressure that prevents the intraday and short term trend to decline.

The trading range for today is among the key support at 1.3050 and resistance at 1.3226

Support and resistance:

Support: 1.2970-1.2876-1.2752

Resistance: 1.3105-1.3160-1.3250

The general trend for today is bullish