For Traders

Analytical Reviews

Technical analysis

13.01.202105:00 Forex Analysis & Reviews: Forecast for GBP/USD on January 13, 2021

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

The Pound jumped by 150 points yesterday and this is a serious reason for continuing growth to the upper target of 1.3800. On the practical side, purchases in this situation are associated with increased risk.

On the daily chart, the signal line of the Marlin Oscillator has reached the resistance of the forming line and a price reversal may follow although the probability of a reversal from the current levels is not necessarily high at about 30%. The price breaking the January 4 top at 1.3703 will push the price higher. The Marlin divergence will transform into a different form.

On the four-hour scale chart, the price is fixed above both indicator lines and the Marlin Oscillator is also growing. This factor increases the likelihood of local continued growth of the British Pound.

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.