GBP/USD: Correction Ended?

As anticipated the GBP/USD corrected recent gains and tested the support area between 1.23 – 1.2250. If 1.23 holds, a next leg up is possible with a potential upside breakout above 1.2450. However, another fall below 1.2280 could see a bearish move towards 1.22.

Daily Forex and DAX Signals:

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Our trading ideas for today 25/1/23:

EUR/USD

Long @ 1.0920

Short @ 1.0865

GBP/USD

Long @ 1.2340

Short @ 1.2310

DAX® (GER40)

Long @ 15110

Short @ 15040

Settings for all trades today: Entries from 8:00 am UTC, SL 25, TP 40

Disclaimer: All trading ideas and expressions of opinion made in the articles are the personal opinion and assumption of MaiMarFX traders. They are not meant to be a solicitation or recommendation to buy or sell a specific financial instrument.