FX.co ★ Forecast for GBP/USD on January 25, 2022

The British pound overcame the target level of 1.3513 (peak on November 18) yesterday with a powerful downward movement and stopped exactly at the support of the MACD line of a daily scale, bouncing off it. The rebound was not very strong, the price remained under the level of 1.3513, the Marlin Oscillator penetrated into the zone of the bearish trend, deepening into it. Now the price can carry out a repeated attack on the MACD line and reach the target level of 1.3411 – the low of September 2021. A drop below the level opens the target 1.3312 – the high on November 11, 2020 (also resistance at some points in 2017).

The price is in a general downward trend on the four-hour chart: the price is falling heavily below both indicator lines, the Marlin Oscillator has slightly discharged from the oversold zone and is ready for further decline.