Forecast for GBP/USD on Jan 31, 2020

Posted On 30 Jan 2020

GBP/USD

Yesterday’s meeting of the Bank of England brought a pleasant surprise for the pound – 7 members of the monetary policy committee spoke out for maintaining the rate against the expectation of 6 or even 5 members. The pound grew by 75 points due to this. On the daily chart, the signal line of the Marlin oscillator entered the growth zone and goes above the upper boundary of its own wedge. Price above the balance line. The growth target of 1.3220 is the area of accumulation of the Fibonacci level of 200.0% with the indicator line of MACD.

On a four-hour chart, the price is higher than both indicator lines – balance sheet and MACD, Marlin in the trend growth zone. We look forward to continued growth.

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

Source:: Forecast for GBP/USD on January 31, 2020

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