Forecast for GBP/USD on September 12, 2019


The British pound fell by 20 points yesterday under pressure from the general strengthening of the dollar. On the daily chart, the signal line of the Marlin oscillator is more clearly turning down. The option with the subsequent increase in decline to the MACD line, in the region of 1.2180, is gradually gaining weight.


On the four-hour chart, after a nondescript divergence on the Marlin oscillator, the signal line entered the negative trend zone, which became a stronger sign of a downward trend in the near future. Also, with an increase in the MACD line, the control level also increased, overcoming which will trigger the pound to fall - 1.2296.


The option with an increase to the Fibonacci level of 161.8% at the price of 1.2543 is not excluded yet. It can turn on after the price goes above the signal level of 1.2381.

The material has been provided by InstaForex Company -