Forecast for GBP/USD on July 19, 2021

GBP/USD

Last Friday, the pound became the leader of the fall (-58 points) and overcame the strong support at 1.3800. These two circumstances indicate that the price will soon reach the target range of 1.3646/70, identified as the lows of March and April. On a daily scale, the Marlin Oscillator turned down without reaching the border of the growth area.

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The price settled both below the level of 1.3800 and below the balance (red) and MACD (blue) indicator lines on the H4 chart. The Marlin oscillator is steadily declining in the negative area. Short and medium term downward trend. The second target is 1.3538 - the high on December 4, 2020.

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

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