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Expert In



Forecast for GBP/USD on May 25, 2020


The British pound overcame the support of the MACD line on the daily chart. The Marlin oscillator has been in the zone of negative values since May 11 - the downward trend is strengthening. The first target of the bears is 1.1935 is the Fibonacci level of 200.0%. The prospect of a decline of 1.1500 is the support of the embedded line of the price channel in the region of the Fibonacci level of 261.8%.


The price found moderate support at the signal level of 1.1265 on the H4 chart. Consolidating under the support will set the basis for a new momentum for the British pound's downward movement. We are waiting for the main events tomorrow, since it is a public holiday today in the US and Great Britain.


The material has been provided by InstaForex Company -