GBP/USD
The UK Treasury's intention to raise taxes and the strengthening of the US dollar by 0.67% led to a 1.20% drop in the pound (148 pips).
On the weekly chart, the price pierced the MACD line, and the Marlin oscillator crossed into the territory of a downward trend. The target along the price channel line opens in the area of 1.3001, which coincides with the September 2024 low.
On the daily chart, the price tested support at 1.3364 (the June 23 low). The price went below the balance indicator line, shifting the focus to selling. The Marlin oscillator is fixed below the zero line, helping the price overcome support and reach 1.3253. Next target: 1.3140.
The situation on the four-hour chart does not provide any additional information; it only confirms the overall picture. Consolidation below 1.3364 opens the way to 1.3253.
