empty
 
 
07.01.2021 06:42 AM
Forecast for GBP/USD on January 7, 2021

GBP/USD

Despite yesterday's weakening of the dollar index by 0.08%, the British pound failed to show growth and fell by 17 points. The price failed to settle above the target level of 1.3624, this morning it shows an intention to resume the decline. For a more confident decline, the transition of the Marlin oscillator to the zone of negative values on the daily chart will not be enough. This will happen after the price drops below the January 4 and 6 lows (1.3537). In this case, the target will open at 1.3345 - MACD line for the daily.

This image is no longer relevant

The price breaks under the MACD line on the four-hour chart, while the Marlin is in the bears' territory. We are waiting for a sell signal to appear - the price moves below the signal level of 1.3537.

This image is no longer relevant

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