GBP/USD is adjusted

Yesterday, the GBP/USD fell to $1.2985 in the morning. However, in the afternoon, it recovered and closed for the second day in a row in the green zone near the level of $1.3045. This morning the pound is trading in a narrow range of $1.3035-50, being close to yesterday's closing price. Thus, the pound continues to adjust to the general downward movement of January 7. On the hourly chart, GBP/USD still remains below the MA (200) Н1 moving average line ($1.3075). At the same time, on the four-hour chart, the Briton continues to test the line of the moving average MA (200) H4 ($1.3065) for strength.

• Resistance levels are at: $1.3065, $1.3095, $1.3120

• Support levels are at: $1.2985, $1.2955, $1.2920

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