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22.01.201909:14 Forex Analysis & Reviews: Forecast for GBP/USD on January 22, 2019

Long-term review

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GBP/USD

On Monday, the British pound touched the support of the Krusenstern line on a daily scale and slightly adjusted upwards. Today we are waiting for a second price attempt to gain a foothold under this line, that is, under the low of yesterday (1.2830). Success will allow the price to decline with the support of the nested line in the price channel in the 1.2664 area.

Preventing a second attempt might come from today's labor data in the UK. The number of employees in December may increase by 88.0 thousand over the last 3 months (as a moving average) against 79.0 thousand in November. But other indicators, such as average wages, the overall unemployment rate are expected to remain unchanged, and for the data to be affected in a positive way, there should be stronger data.

So, today we are waiting for the second attempt to leave the price below the Krusenstern line on the daily chart (1.2830) - the price could not increase so much that the signal line of the Marlin oscillator on the four-hour chart went into the growth zone.

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