GBP / USD pair
The outstanding growth of the British pound on Thursday was halted by the daily balance line. On Friday, the price touched her timidly and rolled back down once again. The Marlin oscillator signal line turned down from the border with the territory of growth. All indicators for the daily trend remains declining. In order to overcome the signal level of 1.2578, the probability of the resumption of growth is 9-12%, which opens the way from the first target of 1.2648 (the line of the price channel and the MACD line).
On the four-hour chart, the price remains above the balance line and the MACD line, as well as the m arlin oscillator in the growth zone. Overcoming the support of the MACD line at 1.2458 creates a full-fledged signal to further reduce the price to the nearest target 1.2290, which is the nested line of the day TF price channel. At the same time, Marlin can move to the zone of negative numbers.
The material has been provided by InstaForex Company – www.instaforex.com