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18.07.201906:39 Forex Analysis & Reviews: Forecast for GBP/USD pair on July 18, 2019

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GBP/USD pair

The British pound did not grow much yesterday against the background of a local weakening of the dollar. A strong downward trend is doing its job. On the daily chart, the price develops under the balance and MACD lines. The leading oscillator Marlin also indicates a decrease in movement in perspective. The target of 1.2296 for the pound as support for the nested line of the price channel is preserved.

On the four-hour chart, the situation is similar. The price is in a completely downward trend and the possibility of correction is limited by the MACD line on the resistance of 1.2464. In reaching this level, the Marlin oscillator signal line will extend to the border with the growth zone, it will reach this level and a reversal may follow.

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