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19.01.202104:57 Forex Analysis & Reviews: Forecast for GBP/USD on January 19, 2021

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GBP/USD

Despite yesterday's price drop by 63 points, the signal line of the Marlin oscillator never left its own wedge, prolonging the time to break the growth trend that has been present since September 23. We accept today's growth as a correction from the fall of the previous two days. With the price moving below the target level of 1.3480, and the consolidation below the MACD line (1.3385), the pound will establish itself in a medium-term downward trend.

The price is approaching the MACD indicator line on the four-hour chart. The Marlin oscillator is approaching the border of the growth area, from which it can turn down. The 1.3635 level along the MACD line looks suitable for completing the correction. We are waiting for the development of events.

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