GBP / USD
On Tuesday, the pound grew by 60 points due to information in the media about the EU's readiness to give the UK a free trade zone after Brexit. Technically, the price growth formed the conditions for growth on the four-hour chart. The price went over the indicator lines of the balance sheet and Kruzenshtern, the Marlin oscillator was in the growth zone. This signal warns that with an increase in the rate of the US Federal Reserve this evening, the market can make a false upward movement, to resist the trend line of the price channel on daily 1.3270.
But, on the other hand, the output of the price for the indicator lines and the Marlin signal line in the growth zone (on the H4 chart) may itself be a false signal. In the end, we still wait for the price to fall sequentially to the following levels: 1.3000 - support for the line of balance on daily, 1.2878 - an approximate goal, formed by the support of the Kruzenshtern line on daily and supporting the trend line of the descending channel. Medium-term goal, as before, the price channel line in the region of 1.2661, which coincides with the minimum on August 15.
The material has been provided by InstaForex Company -
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