RLinda ! GBPUSD-> Price in the correction start zone

20 янв. 2023 г.

GBPUSD is in a strong uptrend. The price is again trading in the price channel and again confirms its boundaries

The chart shows the key element, the price channel and the level of 1.23442. Previously, the price made a false break-through of the channel resistance, returned to the range and could not break through it on the retest, now the level 1.2344 takes up all the pressure, should it break-down, correction stage may start and we might see the price fall to 1.2153 area.

I assume that the price may slightly retreat from the correction zone to the area of 1.215-1.210. I expect consolidation under 1.234 and formation of the entry point for the sale.

Regards R.Linda!