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01.02.2021 04:48 AM
Forecast for GBP/USD on February 1, 2021

GBP/USD

The British pound continued its sideways trend last Friday, and in such a way that the Marlin oscillator remained in its own wedge lines on the daily chart. Today there are no fundamental reasons for a breakout in any direction, but tomorrow or the day after tomorrow we are waiting for the price to move below the signal-target level of 1.3648 and the subsequent fall towards the MACD line in the 1.3480 area.

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The price develops above the balance and MACD indicator lines on the four-hour chart, while the Marlin oscillator is in the growth zone. The version of today's sideways movement is confirmed on this timescale.

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Laurie Bailey,
Analytical expert of InstaForex
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