Yesterday, the British pound rebounded from the support of the MACD indicator line (daily) and surged up by 138 points. It gained 84 points in a day, and surpassed the balance indicator line, which determines the balance between buyers and sellers. There are 60 points left for it to reach the target level of 1.2583.
Surpassing this level will allow the price to fully correct the decline from May 10th (1.2678), which is already the first sign of growth towards the next target level at 1.2785. The signal line of the Marlin oscillator has entered the positive area, supporting the price.
On the four-hour chart, the price is rising vigorously above both indicator lines, while the Marlin oscillator is slightly decreasing, likely preparing for growth upon the release of US employment data.
The material has been provided by InstaForex Company – www.instaforex.com
GBP/USD
Yesterday, the British pound rebounded from the support of the MACD indicator line (daily) and surged up by 138 points. It gained 84 points in a day, and surpassed the balance indicator line, which determines the balance between buyers and sellers. There are 60 points left for it to reach the target level of 1.2583.
Surpassing this level will allow the price to fully correct the decline from May 10th (1.2678), which is already the first sign of growth towards the next target level at 1.2785. The signal line of the Marlin oscillator has entered the positive area, supporting the price.
On the four-hour chart, the price is rising vigorously above both indicator lines, while the Marlin oscillator is slightly decreasing, likely preparing for growth upon the release of US employment data.
The material has been provided by InstaForex Company – www.instaforex.com
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