GBP/USD forms a correction

Yesterday, the GBP/USD fell to $1.2960 in the morning. However, already during the European session it began to recover sharply and managed to close the day in the green zone near the level of $1.3005. Today the pound is trading in a narrow range of $1.2995-05, remaining near yesterday's closing price. Thus, the GBP/USD began to form a correction to the general downtrend of January 17. On the hourly chart, the British currency is still trading below the MA (200) H1 moving average line ($1.3030). On the four-hour chart, the situation is similar.

• Resistances levels are at: $1.3030, $1.3055, $1.3115

• Support levels are at: $1.2955-60, $1.2905-20, $1.2880

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