Currency pair Pound/Dollar GBP/USD continues to move as part of the growth and left the downward channel. At the time of the publication of the forecast, the rate of the Pound to the US Dollar on Forex is 1.3586. Moving averages indicate a short-term bullish trend. Prices have broken the area between the signal lines upwards, which indicates pressure from buyers of the currency pair and a potential continuation of the growth of the instrument. At the moment, we should expect an attempt to correct the price of the British Pound against the US Dollar and test the support area near the level of 1.3475. Where again can we expect a rebound upward and a continuation of the rise in quotations of the British Pound against the US Dollar. The target of the pair’s growth, in the framework of the Forex forecast for January 11, 2022, is the area at the level of 1.3795.
GBP/USD Forecast Pound Dollar January 11, 2022
An additional signal in favor of raising the currency pair will be a test of the support line on the relative strength index (RSI). The second signal in favor of growth will be a rebound from the upper border of the descending channel, which was broken upward. Cancellation of the option to raise the Pound/Dollar pair will be a fall and a breakdown of the support area with the price fixing below the level of 1.3440. This will indicate a breakdown of the lower border of the bullish correction channel and the continuation of the fall of the Pound/Dollar pair to the area at the level of 1.3115. It is worth waiting for confirmation of the pair’s fall with the breakdown of the support area and closing of the price below the level of 1.3395, which will indicate a breakdown of the lower border of the upward correction channel.
GBP/USD Forecast Pound Dollar January 11, 2022 suggests an attempt to test the support area near the level of 1.3475. Then, continued growth with a target above the level of 1.3795. An additional signal in favor of a rise in the British Pound will be a test of the support line on the relative strength index (RSI). Cancellation of the growth option will be a fall and a breakdown of the 1.3440 area. This will indicate a continued decline in the pair with a potential target below 1.3115.
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