Forecast for GBP/USD on December 27, 2019


On Thursday, the British pound slightly grew (32 pp), taking advantage of the general weakening of the dollar (-0.09%). The MACD line on the daily chart (1.3010) acts as a growth limiter. In the main scenario, a pound reversal for a further decline can occur today. The target until the end of the year is the Fibonacci level of 138.2% at a price of 1.2820. The Marlin oscillator is in the decreasing trend zone.


On the four-hour chart, yesterday's growth was delayed by the balance line indicator. Here, the probability of continued correctional growth to the Fibonacci level of 23.6% (1.3049) or even to the MACD line at the price of 1.3095 is manifested here. But if the price lingers at current levels until tonight, the signal line of the Marlin oscillator, already showing the intention to turn down, could be in the zone of negative numbers, and then continued growth will have low chances.


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