Forecast for GBP/USD on November 27, 2020

GBP/USD

The pound has been mastering the 1.3350/90 range over the past two days, yesterday it closed the day with a black candle, and this morning it is trying to get out of the range down. The price divergence with the Marlin oscillator is almost complete on the daily chart. If the negotiators from the EU and the UK put a bold end or stop the negotiation process this weekend and the scenario of a hard Brexit begins to unfold, then the nearest bearish target of 1.3050 can be achieved very quickly. The 1.3200 target along the MACD line looks like an intermediate one now, that is, there may be a slight correction from it.

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The four-hour chart shows that the lower limit of the 1.3350/90 range is slightly below the MACD indicator line, therefore, getting the price to settle below the level will be the first signal for a succeeding fall. The Marlin oscillator is already in the negative zone and is also with the formed divergence.

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