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09.01.202505:09 Forex Analysis & Reviews: Forecast for GBP/USD on January 9, 2025

Rilevanza fino a 22:00 UTC--5

The British pound dropped more than 100 pips yesterday. Although the price approached the target level of 1.2294, the low from April 22, 2024, it did not reach it. If today's trading closes with a bearish candle, this will confirm a consolidation below the 1.2367 level, establishing a strong basis for a potential breakthrough of 1.2294, with further movement anticipated toward 1.2186.

Exchange Rates 09.01.2025 analysis

However, the price channel of the Marlin oscillator may present a challenge, as its signal line could bounce off the lower boundary. There is also the possibility of a quick breakout from this channel. With tomorrow's U.S. labor data release on the horizon, we consider this "decisive" scenario to be the most likely outcome.

Exchange Rates 09.01.2025 analysis

On the H4 chart, the price has already consolidated below the 1.2367 level. The Marlin oscillator has turned upward, suggesting further consolidation below this level. It seems that the pound is preparing for tomorrow's crucial U.S. data.

*La presente analisi del mercato ha un carattere esclusivamente informativo e non rappresenta una guida per l`effettuazione di una transazione.

Laurie Bailey,
Analytical expert of InstaSpot
© 2007-2025
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