Forecast for GBP/USD on May 29, 2019

GBP/USD

On Tuesday, the pound fell by 26 points, but this was enough to go under the important technical level of 1.2660 (minimum August 15, 2018), which opens the way to the following target levels: 1.2530 (minimum December 14, 2018) and 1.2388 – support for the embedded price channel.

On the four-hour chart, the price drops below the balance line and the MACD line. The signal line of the Marlin oscillator moved to the zone of decrease – to the territory of negative values.

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The material has been provided by InstaForex Company - www.instaforex.com