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Forecast for GBP/USD on January 29, 2020

The pound showed increased volatility on Tuesday - lost 77 points and sharply grew and closed the day with 29 points. The price as a whole worked out the area of the first target at the Fibonacci level of 161.8%, but showed a sign of correction from it. The correction can be deep, to the Fibonacci level of 200.0%, where the blue line of MACD develops.
by Sz. Daniela
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Coronavirus in China Controls Financial Markets: EUR/USD and GBP/USD is Under Weak Bearish Pressure

A day off in the USA led to a decrease in volatility in the financial markets, however, Asia traded in the red zone in the morning. The reason is the threat of the spread of Coronavirus in China, which can lead to serious problems in the field of tourism and air travel, which led to an increase in the demand for protective assets. As a result, the yen has grown, strong demand for bonds has been observed, US Treasures lose 2.36% in yield, while Swiss and German 10-year bonds - more than 3%.
by Sz. Daniela