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03.01.202205:10 Forex Analysis & Reviews: Forecast for GBP/USD on January 3, 2022

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The pound showed good growth (47 points) last Friday, but it did not reach the target level of 1.3570 (100.0% Fibonacci level). Consolidating below the Fibonacci level of 110.0% may give an impetus to the retraction of 123.6% (1.3412). The MACD indicator line is in the same area - support is assumed to be strong. Accordingly, overcoming it may set a medium-term decline in the British pound. Target 1.3160. The Marlin Oscillator is reversing from the overbought zone and this indicates the advantage of the reversal scenario.

Price divergence with Marlin comes into play on the four-hour chart. A decline under the MACD line at 1.3434 will show its determination in the fight against the support at 1.3412.

A probability (that is not very high) of succeeding price growth is realized after overcoming 1.3570.

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