Forecast for GBP/USD on January 27, 2020

GBP/USD

The British pound fell by 50 points on Friday. The price went below the red indicator line of the balance and Marlin moved to the zone of negative values - the trend on the daily scale became completely lower. The closest target at 1.2968 Fibonacci level of 161.8% at the lows of January is open. Next, we expect a decrease to the Fibonacci level of 138.2% (a November 22 low) at the price of 1.2820.

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On a four-hour chart, the price has consolidated below the MACD line, the Marlin oscillator is moving deeper into the territory of the bears. We look forward to further movement towards the designated goals.

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The material has been provided by InstaForex Company - www.instaforex.com