GBP/USD
The British pound traded in a small range on the Fibonacci line of 138.2% (1.2424) yesterday. The price is currently located on the red balance indicator line on the daily chart, under which will pave the way to the 1.2235 target at the Fibonacci level of 161.8%. Marlin in the zone of negative values is a downward trend.
The price is already below the balance line on the H4 chart. Marlin is also in a negative trend. The exact signal for opening a short position is when the price transitions to yesterday's low of 1.2388.
The price should go above the MACD line and the Fibonacci level of 123.6% (1.2540) to turn the situation upward. But growth in this case can be very significant, more than four figures.
The material has been provided by InstaForex Company - www.instaforex.com