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Forecast for GBP/USD on December 18, 2019

GBP / USD

Yesterday, the pound fell by 202 points, blocking not only Friday’s growth, but also at least December 5. On the daily chart, divergence has formed on the Marlin oscillator, while the signal line is attacking the boundary with the territory of the “bears ” The nearest goal of the price is the area of coincidence of the Fibonacci level of 161.8% with the indicator line of MACD - 1.2965. Now, we expect a further decline in the pound to the most significant Fibonacci levels: 123.6% at the price of 1.2730 and 100.0% at the price of 1.2582, with the break down of the support.

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On the four-hour chart, the price is developing under the indicator lines of balance and MACD. Meanwhile, the Marlin indicator is in a downward position.

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The material has been provided by InstaForex Company - www.instaforex.com
via Forecast for GBP/USD on December 18, 2019
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