On Tuesday, the British pound fell by 59 points under pressure from a stronger dollar and a decline in the UK business activity in the construction sector from 52.9 to 52.1 in September. Support for the balance line on a daily scale was strong enough, the pound could not radically shift the balance downward.
On the four-hour chart, the Marlin oscillator and price formed a corrective convergence. Growth to 1.3092 is possible, which is a technical level, from which the price made local reversals three times, starting from September 11 that are noted on these levels. The MACD line and the line of balance unfolded upwards (red) tend to the same level. After correction, we are waiting for a new wave of decline to 1.2880.
The material has been provided by InstaForex Company – www.instaforex.com
GBP / USD pair
On Tuesday, the British pound fell by 59 points under pressure from a stronger dollar and a decline in the UK business activity in the construction sector from 52.9 to 52.1 in September. Support for the balance line on a daily scale was strong enough, the pound could not radically shift the balance downward.
On the four-hour chart, the Marlin oscillator and price formed a corrective convergence. Growth to 1.3092 is possible, which is a technical level, from which the price made local reversals three times, starting from September 11 that are noted on these levels. The MACD line and the line of balance unfolded upwards (red) tend to the same level. After correction, we are waiting for a new wave of decline to 1.2880.
The material has been provided by InstaForex Company – www.instaforex.com
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