For Traders

Analytical Reviews

Technical analysis

13.01.202005:07 Forex Analysis & Reviews: Forecast for GBP/USD on January 13, 2020

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

Quotes of the British pound are held for two days on the indicator line of the balance of the daily scale in red. Overcoming it will allow the price to consistently take the three immediate goals at the Fibonacci levels: 1.2968, 1.2820, 1.2730. The Marlin oscillator is in the decline zone.

On the four-hour chart, the price overcame the support of the MACD line, but did so with a gap. In this case, with a general declining trend and in the absence of warning reversal signals, the "window" serves as a harbinger of a further fall in prices, but it is not advisable for it to remain open for a long time.

We are waiting for the closure of this gap and a further decline in the British pound. The Marlin oscillator is developing in a declining trend zone.

Back to the list

Open trading account

InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.