Forecast for GBP/USD on December 12, 2020

GBP/USD

The pound lost 108 points on Thursday, closing the day at the target level of 1.3290. Getting the pair to settle below the level on the lower timeframe opens the target at 1.3180. The MACD line is located in front of the level, but the expected momentum will most likely be able to overcome it. The price move below 1.3180 opens the second target at 1.3108 (Nov 13 low). The Marlin oscillator is already steadily in the negative zone.

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The four-hour chart shows that the downward trend develops in its own way - the price is below the indicator lines, the Marlin oscillator is in the negative trend zone. The indicators show no signs of getting out of this trend.

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