FX.co ★ Forecasts for GBP/USD on January 21, 2020

GBP/USD

Yesterday, the pound spent supporting the Fibonacci level of 161.8% (price 1.2968). The most active American players on the market were not present due to a national holiday, and today they can show increased activity. With the overcoming of support at 1.2968, the first target of the bears at 1.2820 opens - the Fibonacci level of 138.2% of the base branch of the movement on September 3-20, 2019. The level almost coincides with the low of November 22 of last year. Even lower is another target level of 1.2758 - a high of June 12.

On the four-hour chart, the price did not go above the red indicator line of the balance sheet yesterday, thereby preserving the falling market balance. Also, the Marlin oscillator remained in the declining trend zone. We are waiting for the price to move towards the first target of 1.2820.