FX.co ★ Forecast for GBP/USD on January 31, 2022

The British pound appears settled under the MACD indicator line on the daily chart, which makes the nearest target level (1.3312) relevant. Consolidation below the level opens the second target at 1.3160. At the moment, the price may try to test the strength of the MACD line (1.3434) once again.

On the chart of a four-hour scale, a price convergence with the Marlin Oscillator is formed. The signal line of the oscillator goes into the positive zone. This is most likely a price correction, not a reversal. Correction targets: 1.3434 – MACD line on a daily scale and 1.3484 – MACD line on a four-hour scale.