Yesterday, the British pound could not withstand the tension as it fell out of the consolidation zone under its lower limit of 1.3158, lost 82 points and also consolidated below the MACD four-hour scale. The marlin oscillator on H4 also moved to decline territory. On the daily chart, the signal line of the marlin oscillator turned down from the border with the growth territory, as we expected in the description of the main scenario.
So, the price continues to consolidate below the MACD daily scale (1.3048), in order to continue to decline towards the embedded line of the price channel in the area of 1.2864. A target range of 1.2772-1.2814 is below it.
The material has been provided by InstaForex Company – www.instaforex.com
GBP/USD
Yesterday, the British pound could not withstand the tension as it fell out of the consolidation zone under its lower limit of 1.3158, lost 82 points and also consolidated below the MACD four-hour scale. The marlin oscillator on H4 also moved to decline territory. On the daily chart, the signal line of the marlin oscillator turned down from the border with the growth territory, as we expected in the description of the main scenario.
So, the price continues to consolidate below the MACD daily scale (1.3048), in order to continue to decline towards the embedded line of the price channel in the area of 1.2864. A target range of 1.2772-1.2814 is below it.
The material has been provided by InstaForex Company – www.instaforex.com
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