For Traders

Analytical Reviews

Technical analysis

26.05.202005:04 Forex Analysis & Reviews: Forecast for GBP/USD on May 26, 2020

This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here.

GBP/USD

The British pound failed to gain a foothold under the MACD line on Monday (closing of the day was slightly higher than this line), and it opened above this line today. But the Marlin oscillator remains in the zone of negative values. The price may return below the MACD line, as it is still below the Fibonacci level of 161.8% and below the balance line (indicator red).

The price is developing between the signal level of 1.2165 and the MACD line on the H4 chart. A reversal of the current candle occurred from this line, the Marlin oscillator in a neutral position - on its own zero line.

The CBI retail sales balance for the current month will be published this afternoon, with a forecast of -65 versus -55 in April, which may support the pound in deciding to once again attack the support of the signal level to the downside. Consolidation under it opens the way to 1.1935 - Fibonacci level of 200.0%.

Back to the list

Open trading account

InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.