GbpUsd H8 - 16.01.24

We expect an increase in the dollar with a slight reduction in expectations from the FED.

In the GbpUsd pair, where the upward trend channel has been broken, there is continued horizontal movement in the price. Before observing a downward movement, we may see a retesting of the previous peak and the formation of a double top.

Until there is a somewhat more hawkish statement from FED members according to market expectations, we may continue to see partial increases and frequent horizontal movements in the dollar. With future announcements, we anticipate a strong and powerful trend movement rather than limited and weak increases.