FX.co ★ Forecast for GBP/USD on January 16, 2023

Bulls are fighting for the key level of 1.2155 in order to win.

On the daily chart, the price settled above this level, now 1.2410 is under the scope of speculators, and in case the price settles above this level, the 1.2598-1.2666 target range (high on May 27) will become available.

The Marlin oscillator has settled in the positive area, its influence on the price has increased. Actually, the price went above the balance indicator line (red moving line), which shows the shift in market interest to purchase the British currency.