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Forecast for GBP/USD on July 26, 2021

GBP/USD

Last Friday, the British pound slightly fell with the Marlin oscillator intent on turning down without reaching the border of the growth area. A similar pattern was observed on July 12-14, it is marked on the daily chart with a gray oval. If the pattern is confirmed, then after the price overcomes the range support 1.3646/70, the price will go to reach the target level of 1.3538 - the high on December 4, 2020.

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The price struggled for a long time with the resistance of the MACD line on the four-hour chart, but was unable to settle above it. The Marlin Oscillator is turning down, the probability of movement to the first target at 1.3646/70 at the current moment is 55-60%. To strengthen the trend, the price needs to overcome Friday's low of 1.3719.

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