Forecast for GBP/USD on September 10, 2020


The British pound traded in the range of 76.4-61.8% Fibonacci levels on Wednesday, closing the day near the upper level (61.8%). The price settled under both indicator lines - the blue MACD line and the red balance line. This means that the market is settling in a downward trend. The nearest target for the pound is 1.2912, the 76.4% Fibonacci level. Overcoming the level opens the main goal of 1.2812 - the June high.


The four-hour chart shows a downward trend with no signs of a reversal or deep correction. The correction at the 61.8% level has probably ended, and the Marlin oscillator will not enter the growth zone. We are waiting for the price to fall to the designated goals.


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