GBPUSD: Will the price go lower again before the FOMC?

GBPUSD: Will the price go lower again before the FOMC?

The market is moving against the US dollar during the European morning.

All focus for the next two days will be on the FOMC (Wednesday, February 1)

This is creating a pause in the market over the past 2 weeks.

Technical Analysis:
Price is testing a strong daily resistance coming from the top of the structure.

The selling pressure near the top must be very high.
Must be a strong reason for GBP to move above the 4-hour structure as long as the price has not made that move all these days.

The economic calendar for today is almost empty and this will help the currency pairs to move down again.

Thanks and good luck!

Trade closed: target reached:

GBPUSD - Target 1 Reached

Comment:

Trade closed: target reached: