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22.01.202504:42 Forex Analysis & Reviews: Forecast for GBP/USD on January 22, 2025

Relevance up to 21:00 2025-01-22 UTC--5

The British pound has approached the resistance level of 1.2367, which aligns with the Fibonacci retracement of the most recent decline from December 6 to January 13. This retracement is enough to potentially resume the medium-term downward movement. Notably, the Marlin oscillator has already reversed without reaching the zero line.

Exchange Rates 22.01.2025 analysis

If the pound continues to rise and reaches the target level of 1.2510, particularly if supported by better-than-expected PMI data on Friday (although current forecasts suggest a decline), we anticipate a reversal at 1.2510, as this level is strongly reinforced by the MACD Line.

Exchange Rates 22.01.2025 analysis

On the H4 timeframe, both the price and the Marlin oscillator have formed a reversal divergence pattern. While the price may struggle to rise above 1.2367, if it manages to break through and consolidate above this level, it will set the stage for further growth toward 1.2510.

*Analiza tržišta koja se ovde nalazi namenjena je boljem razumevanju tržišta i ne pruža instrukcije za vršenje trgovanja.

Laurie Bailey,
Analytical expert of InstaSpot
© 2007-2025
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