FX.co ★ Forecast for GBP/USD on January 15, 2021

GBP/USD

Despite yesterday's growth of the British pound by almost 50 points, the wedge of the Marlin oscillator remains intact, which also preserves the probability of the signal line leaving it downward according to our main scenario. The nearest target level of 1.3480 for the peaks of December 9 and September 1 of the previous year remains relevant. Next, the price will need to overcome the support of the MACD line, below 1.3380, which will be the first fulfilled condition for the development of a medium-term downward movement.

The price on the four-hour chart is above the MACD indicator line, but a divergence is already forming with the Marlin oscillator. Fixation under the MACD line (1.3640) will automatically lead to the departure of Marlin in the zone of a declining trend, which will become a condition for a short-term price decline, obviously, with the target of 1.3480.