FX.co ★ Forecast for GBP/USD on January 8, 2021

GBP/USD

The double divergence for the British pound is starting to run in full force on the daily chart. Today the Marlin oscillator crossed the border into the bears' territory. We are waiting for the pair to fall to the first target of 1.3342 - to the MACD line.

The four-hour chart shows that the price has settled below both indicator lines: below the balance line (red) and the MACD line (blue). The price paused before the signal level of 1.3537, probably in order to accelerate the decline after accumulating strength in a small consolidation.