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30.01.202505:01 Forex Analysis & Reviews: Forecast for GBP/USD on January 30, 2025

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Yesterday's news from the Federal Reserve was deliberately neutral. The accompanying FOMC statement even omitted the phrase "inflation has moved closer to the 2% target." When Jerome Powell was asked why this phrase was omitted, he explained that the Fed did not want this wording to be interpreted as a signal.

Exchange Rates 30.01.2025 analysis

Currently, the price remains at the same level as it was 24 hours ago. However, the MACD indicator line on the daily chart has moved closer to the price, indicating increased pressure. Following the unsuccessful attempt to break through the resistance level at 1.2500, there is now a heightened inclination for the price to test the support at 1.2367. Additionally, the anticipated European Central Bank rate cut later today may provide some external support. If the price breaks below this support, the next target will be at 1.2186.

Exchange Rates 30.01.2025 analysis

On the four-hour chart, the price is being supported by the balance indicator line. The Marlin oscillator is showing some weakness but remains in bearish territory. The MACD line is approaching the support at 1.2367, which strengthens its importance. Thus, if the price consolidates below this level, it could open the way to the target of 1.2186.

Laurie Bailey
Analytical expert of InstaForex
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CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 75.02% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
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