FX.co ★ Forecast for GBP/USD on January 2, 2020

GBP/USD

The British pound took full advantage of the convenience of the thin market for a breakthrough as the price grew by 153 points on December 31. Therefore, the pound corrected exactly by 61.8% of the fall from December 13 to 23. The price exit above Tuesday's high opens the next target in the range of 1.3350/70 - the range corresponds to the Fibonacci level of 223.6% on the daily chart and 76.4% on H4.

The signal line of the Marlin oscillator on the daily chart is growing in the zone of positive values, the price is above the indicator lines - the growth is strong.

On the four-hour chart, the Marlin oscillator gives a weak correction (not a reversal) signal.

The growth of counter-dollar currencies in recent days has been speculative.

Accordingly, the decline in the pound since the opening of the New Year's market may also be sharp. The technical condition for the completion of growth and the resumption of the fall will be price consolidation under the MACD lines on charts of both scales, these supports coincide at a price level of 1.3055.