GBP/USD: Pound Shows Slight Decline, Marlin Oscillator Prepares for Potential Advance

GBP/USD

GBP/USD

Pound declined slightly on Monday, which kept the Marlin oscillator in a downward direction. However, it seems to be preparing to overcome the balance indicator line (in red) this morning, most likely aiming to advance towards the first target at 1.2720.

If the price manages to consolidate below this level, it will break through the MACD line (in blue) and move towards the June 29 low at 1.2590.

Advertising

On the four-hour chart, the pair trades below the lower boundary of the range (1.2839) and the balance indicator line, shifting the short-term trend towards selling. The Marlin oscillator also moved into negative territory, indicating a bearish trend. In the event of an unexpected breakout above the upper boundary of the range (1.2903), the price increase could be stopped by the MACD line (1.2937)

InstaForex

InstaForex es una marca internacional creada en 2007. La compañía brinda servicios para las operaciones de divisas en línea y es reconocida como uno de los brókers líderes en el mundo. Nos hemos ganado la confianza de más de 7,000,000 traders minoristas, quienes ya han apreciado nuestra confiabilidad y enfoque en la innovación.

Topics

gbp/usd pound price increase consolidation Marlin Oscillator bearish trend selling MACD line four-hour chart short-term trend upper boundary advance lower boundary balance indicator line downward direction first target June 29 low

Table of contents

GBP/USD

InstaForex

Topics