For Traders

Analytical Reviews

Technical analysis

27.03.202406:04 Forex Analysis & Reviews: Forecast for GBP/USD on March 27, 2024

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 upper shadow of yesterday's daily candle reached the control level of 1.2666, but failed to surpass it, so the main bearish scenario persists.

Right now the price is below the balance indicator line and it aims to overcome the support of the target level at 1.2596. Consolidation below this level will pave the way for the pair to fall to 1.2500. The Marlin oscillator is descending in the negative territory, which confirms the downward direction that the trend is following.

On the 4-hour chart, the Marlin oscillator has returned to the downtrend territory, which shows that the previous upward movement was a false move. We are waiting for the price to consolidate below the support at 1.2596.

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.