On the daily chart, the price has settled below the price channel line, and the signal line of the Marlin oscillator has entered negative territory. It appears that the price is set to test 1.1880. In case the price returns above the price channel line around the 1.2153 level, the pound may aim for 1.2307.
Today, the US will release important reports: GDP for the third quarter (forecast 4.2% versus 2.1% in the previous period) and the orders for durable goods for September (forecast 1.5%). These are favorable conditions for the pound’s decline.
On the 4-hour chart, the price is falling below both indicator lines, and the Marlin oscillator is developing a downward movement in negative territory. If the price remains below 1.2070, it will signal a continuation of the decline.
The material has been provided by InstaForex Company – www.instaforex.com
GBP/USD
On the daily chart, the price has settled below the price channel line, and the signal line of the Marlin oscillator has entered negative territory. It appears that the price is set to test 1.1880. In case the price returns above the price channel line around the 1.2153 level, the pound may aim for 1.2307.
Today, the US will release important reports: GDP for the third quarter (forecast 4.2% versus 2.1% in the previous period) and the orders for durable goods for September (forecast 1.5%). These are favorable conditions for the pound’s decline.
On the 4-hour chart, the price is falling below both indicator lines, and the Marlin oscillator is developing a downward movement in negative territory. If the price remains below 1.2070, it will signal a continuation of the decline.
The material has been provided by InstaForex Company – www.instaforex.com
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