empty
 
 
05.01.2021 05:09 AM
Forecast for GBP/USD on January 5, 2021

GBP/USD

The British pound experienced a double blow yesterday: the dollar's general intention to strengthen, which led to a decline in commodities and stock markets, and the announcement of a national quarantine by Prime Minister Boris Johnson. The pound fell 90 points.

This image is no longer relevant

The daily chart shows that the fall was reflected when a double divergence formed with the Marlin oscillator, although the price itself created four new highs since the beginning of the divergence on November 11. We are waiting for the price at the first target of 1.3320, determined by the MACD line.

This image is no longer relevant

The four-hour chart shows that the fall stopped at the MACD line. Getting the price to settle below it, under 1.3555, will become a signal for action, that is, for selling the GBP/USD pair. Also on this scale, the price divergence is in action with the oscillator, while Marlin is already in the negative area.

Laurie Bailey,
Analytical expert of InstaForex
© 2007-2024
Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $8000 more!
    In March we raffle $8000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 100% Bonus
    Your unique opportunity to get a 100% bonus on your deposit
    GET BONUS
  • 55% Bonus
    Apply for a 55% bonus on your every deposit
    GET BONUS
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS

Recommended Stories

Can't speak right now?
Ask your question in the chat.
Widget callback