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12.01.202106:47 Ανάλυση και κριτικές Forex: Forecast for GBP/USD on January 12, 2021

GBP/USD

Yesterday, the pound lost 113 points at the moment, but the balance line on the daily chart did not make it possible for the price to abruptly change the current ideology of growth. Rebounding off this line, the price retraced half of its loss by the end of the day. But the Marlin oscillator is in the negative area, that is, a downward trend - reaching the nearest target (1.3325) along the MACD line is only a matter of time.

Exchange Rates 12.01.2021 analysis

The four-hour chart shows that the price has retested the signal level of 1.3537. Perhaps the local correction will end there. We are waiting for the development of the situation, and when the price goes below yesterday's low of 1.3450, we meet the price at the designated target of 1.3325.

Exchange Rates 12.01.2021 analysis

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.

Laurie Bailey,
Analytical expert
InstaForex Group © 2007-2021
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