Forecast for GBP/USD on June 26, 2019

GBP/USD

On Tuesday, the pound sterling met a strong resistance level of February this year - with a mid-month reversal zone, where it was also hampered by the daily balance line. The pound fell to close below the MACD line on the four-hour chart. The consolidation of the Marlin oscillator signal line on H4 was broken down. The pair's nearest target is now the level of 1.2610 - a low of August 15, 2018. Overcoming this level opens a second target at 1.2530 - a low of December 14 2018.

The Marlin oscillator signal line on the daily chart is still in the growth zone, which indicates the latent power of the bulls, which can occur if there is strong positive news. The probability of such an event in the technical assessment is around 20%.

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