Forecast for GBP/USD on July 9, 2019

GBP/USD

The situation on the British pound has not changed over the past day. Even the leading Marlin oscillator on the daily and H4 charts is preserved at yesterday's values. The current goal of the pound is the support of the embedded line of the price channel on the daily chart, which coincides with the low of November 20, 2016.

analytics5d241a4eaacb2.png

On the four-hour chart, the current convergence with the Marlin oscillator still remains, these remain the probability of price growth to the upper limit of the 1.2556 range (low of 3 July). To neutralize this formation, the marlin signal line should go under the azure-colored line, which in the price chart will correspond to a decline below Friday's low of 1.2480.

analytics5d241a636bea5.png

So, after the price drops below 1.2480, the way to further pull down the British pound opens.

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