On Tuesday, the pound sterling fell by 48 points, breaking the support of the MACD line of the daily scale. On the four-hour chart, the price has already consolidated below the indicator lines. The pound is not making much of an effort to gain a foothold below the lower limit of the range of 1.3030-1.3135. The signal line of the marlin oscillator on H4 is already in the declining trend zone. On the daily chart, the marlin did not move to the growth zone.
So, we are waiting for the price to consolidate at 1.3030 and a further decline to 1.2840 – support for the embedded line of the price channel of the higher (weekly and monthly) timeframe.
The material has been provided by InstaForex Company – www.instaforex.com
GBP/USD
On Tuesday, the pound sterling fell by 48 points, breaking the support of the MACD line of the daily scale. On the four-hour chart, the price has already consolidated below the indicator lines. The pound is not making much of an effort to gain a foothold below the lower limit of the range of 1.3030-1.3135. The signal line of the marlin oscillator on H4 is already in the declining trend zone. On the daily chart, the marlin did not move to the growth zone.
So, we are waiting for the price to consolidate at 1.3030 and a further decline to 1.2840 – support for the embedded line of the price channel of the higher (weekly and monthly) timeframe.
The material has been provided by InstaForex Company – www.instaforex.com
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