Forecast for GBP/USD on July 27, 2019

GBP/USD

On Friday, the British pound fell by 70 points, to the nearest target of 1.2280 less than 100 points remained, where the price is waiting for the support of the embedded line of the price channel. On the daily chart, the Marlin oscillator is not in a hurry to fall, which indicates that there is still a potential to decline, in particular, to the second goal of 1.2055, also determined along the line of the price channel.

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On the four-hour chart, the price went deep enough below the balance and MACD line, the signal line of the Marlin oscillator also did not very quickly go into the negative zone. The trend is completely declining.

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