GBPUSD – Downside potential

19.01.2022

Daily: The bearish consolidation has not yet reached the defining support on the middle Bollinger envelope (1.3549), so we can only wait for the pair at this level.

Н4: Here, the zone of dynamic support from the lower Bollinger line is also located at 1.3549, which increases its weight as a target level.

H1: The ADX potential is relatively low intraday, so GBPUSD may fluctuate within the range of Bollinger bands (1.3579-1.3608) for some time.

Scenarios: Swing in the range of 1.3579-1.3608, then decline to 1.3549.

Decisions: Sell from the zone 1.3608 to 1.3549.