GBP/USD
Correctional growth of the pound stopped quite quickly. The price did not continue to grow on Monday and fell by 36 points on Tuesday. The Marlin oscillator continued to fall in the negative trend zone.
The price was supported by the convergence zone of the MACD line with a Fibonacci level of 38.2% on a four-hour chart. The signal line of the Marlin oscillator has turned from the boundary with the growth territory.
Leaving prices at yesterday's low of 1.2834 will open the closest target at 1.2765 (Fibonacci level of 23.6% on daily). Decreasing to the level opens the second target at 1.2703, the MACD line of the daily scale is aiming for it. Consolidation at 1.2703 will provoke a medium-term decline in the British pound (target 1.2360 - correction of 61.8% per day).
The material has been provided by InstaForex Company - www.instaforex.com