empty
 
 
22.01.2021 06:57 AM
Forecast for GBP/USD on January 22, 2021

GBP/USD

The British pound gained 77 points on Thursday with the exit of the signal line of the Marlin oscillator above the upper line of its own wedge. It would seem that now the movement is only upward, to the 1.3800 target and above, but the signal line of the oscillator returns to the wedge, which, after returning, will indicate the falsity of this growth and the subsequent rapid departure of Marlin from the wedge to the downside. A price decline below 1.3646 opens a straight path to 1.3480.

This image is no longer relevant

The price formed a divergence reversal with the oscillator in the four-hour chart. The daily timeframe level of 1.3646 corresponds to the support of the MACD line at H4. With the price moving below the MACD line and with the transition of the Marlin oscillator into the negative zone (which will happen a little earlier), it is possible to open short positions for this pair.

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