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23.01.201910:02 Forex Analysis & Reviews: Forecast for GBP / USD pair on January 23, 2019

Long-term review

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GBP / USD pair

The British pound took advantage of yesterday's weakness of the dollar and speculatively grew by 63 points. The reason was the pressure of a number of Theresa May Cabinet ministers, threatening to resign, if she tried to block the new Brexit plan (providing for only minor amendments).

Technically, the sterling pound aimed at the resistance of the price channel line to 1.3033 on the daily chart. If the price reaches this level rather quickly, a divergence will be formed with the Marlin oscillator as a sign of a reversal into the medium-term trend. A preliminary signal to the mid-term reversal will be the price fixation under the MACD line at 1.2900 on the four-hour chart. The final level will be the fixation below the MACD line at 1.2830 on the daily chart. In this case, the target to 1.2653 will open, supporting the line of the price channel of the daily timeframe.

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