For Traders

Analytical Reviews

Technical analysis

18.01.202105:09 Forex Analysis & Reviews: Forecast for GBP/USD on January 18, 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

The British pound dropped by almost a figure last Friday, and the Marlin oscillator indicated a way out of the wedge-shaped structure. This exit stimulates the currency to decline rapidly. The first target is the record level of 1.3480, the second target at 1.3375 is the MACD indicator line on the daily chart. The Marlin oscillator is already entering the downward trend zone.

The four-hour chart shows that the price has settled under the MACD line, and the balance line (red) is about to surrender, which shows the market's mood for preferential buying or selling. Marlin is a leading indicator, already in the bears' area.

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.