Forecast for GBP/USD on Jan 13, 2020

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GBP/USD

Quotes of the British pound are held for two days on the indicator line of the balance of the daily scale in red. Overcoming it will allow the price to consistently take the three immediate goals at the Fibonacci levels: 1.2968, 1.2820, 1.2730. The Marlin oscillator is in the decline zone.

On the four-hour chart, the price overcame the support of the MACD line, but did so with a gap. In this case, with a general declining trend and in the absence of warning reversal signals, the “window” serves as a harbinger of a further fall in prices, but it is not advisable for it to remain open for a long time.

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We are waiting for the closure of this gap and a further decline in the British pound. The Marlin oscillator is developing in a declining trend zone.

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

Source:: Forecast for GBP/USD on January 13, 2020

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