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23.07.201808:06 Forex Analysis & Reviews: Overview of the GBP/USD as of July 23, 2018

Long-term review

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GBP / USD

On Friday, the data for the UK budget deficit for June increased, as the public sector borrowing amounted to 4.5 billion pounds against 3.9 billion in May, with the forecast of 3.6 billion. However, the decline of the dollar index by 0.76%, with the threat of Britain not to pay EU "compensation" of 60 billion pounds helped the British currency to raised by 117 points.

Technically, the British pound is in a difficult situation. It would likely move to the resistance of the trend line on a daily scale (1.3208) and this will be the third test of this line since July 9. For further growth, the Marlin oscillator is required to reach the growth zone (positive numbers).

But in order to achieve a daily price resistance, the price should overcome the trend line on a smaller chart - H4 (1.3164). The situation for today is not defined.

* The presented market analysis is informative and does not constitute a guide to the transaction.

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