Forecast for GBP/USD on January 12, 2021

GBP/USD

Yesterday, the pound lost 113 points at the moment, but the balance line on the daily chart did not make it possible for the price to abruptly change the current ideology of growth. Rebounding off this line, the price retraced half of its loss by the end of the day. But the Marlin oscillator is in the negative area, that is, a downward trend - reaching the nearest target (1.3325) along the MACD line is only a matter of time.

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The four-hour chart shows that the price has retested the signal level of 1.3537. Perhaps the local correction will end there. We are waiting for the development of the situation, and when the price goes below yesterday's low of 1.3450, we meet the price at the designated target of 1.3325.

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