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29.01.201908:33 Forex Analysis & Reviews: Forecast for GBP/USD on January 29, 2019

Long-term review
This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here.

GBP/USD

In anticipation of any news from the British Parliament, and today there will be a vote on a number of bills regarding Brexit, the pound has slightly moved away from Monday's high, turning the Marlin oscillator on both charts into a strong downward movement. The general trend, however, continues to increase. The nearest signal to decline is still far away - this is the range of 1.3014/44, formed by the Krusenstern line on the four-hour scale and the line of the price channel on the daily. But this is only the closest signal, then the price should fix below the Krusenstern line on the daily chart, at the current moment it is about the level of 1.2880.

Before the movement of the pound up there are many levels: 1.3216, 1.3257, 1.3310, 1.3396. It remains to wait for the development of the situation.

Exchange Rates 29.01.2019 analysis

Exchange Rates 29.01.2019 analysis

Laurie Bailey
Analytical expert of InstaForex
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