Forecast for GBP/USD on January 13, 2021

GBP/USD

The Pound jumped by 150 points yesterday and this is a serious reason for continuing growth to the upper target of 1.3800. On the practical side, purchases in this situation are associated with increased risk.

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On the daily chart, the signal line of the Marlin Oscillator has reached the resistance of the forming line and a price reversal may follow although the probability of a reversal from the current levels is not necessarily high at about 30%. The price breaking the January 4 top at 1.3703 will push the price higher. The Marlin divergence will transform into a different form.

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On the four-hour scale chart, the price is fixed above both indicator lines and the Marlin Oscillator is also growing. This factor increases the likelihood of local continued growth of the British Pound.

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