On Friday, the quote of the British pound did not reach the MACD line of the daily scale, which is slightly below the target level of 1.2100. Probably, in the current technical situation, the reversal of the signal line of the Marlin Oscillator and the zero line had a stronger effect on the price. As a result, we expect further decline in technical indicators and prices. The first target of the GBP/USD pair is the level of 1.1800.
On the four-hour chart, on the path to 1.1800, the MACD indicator line is visible in the area of 1.1919, which has prevented the bears from developing an attack three times since the 19th.
This time, the price's downward potential is stronger, which in particular is also shown by the Marlin Oscillator's move to the negative territory. As a result, overcoming 1.1919 will finally direct the trend towards the target.
