Forecast for GBP/USD on December 29, 2020
The British pound lost 83 points yesterday. This has significantly shifted the technical picture to a declining scenario, but small confirmations are still lacking. The Marlin oscillator on the daily scale entered the territory of a declining trend. In order to consolidate under the signal-target level of 1.3495, today should be closed below it. The first target of 1.3275 will become more tangible.
On the four-hour chart, yesterday’s decline stopped at the MACD line. The Marlin oscillator managed to enter negative territory. With the price moving below the MACD line, which corresponds to yesterday’s low (1.3428), the target of 1.3275 will work.
The material has been provided by InstaForex Company – www.instaforex.com