On the daily chart, the price has settled below the price channel line, and the signal line of the Marlin oscillator has entered negative territory. It appears that the price is set to test 1.1880. In case the price returns above the price channel line around the 1.2153 level, the pound may aim for 1.2307.
Today, the US will release important reports: GDP for the third quarter (forecast 4.2% versus 2.1% in the previous period) and the orders for durable goods for September (forecast 1.5%). These are favorable conditions for the pound’s decline.
On the 4-hour chart, the price is falling below both indicator lines, and the Marlin oscillator is developing a downward movement in the bearish territory. If the price stays below 1.2070, this will signal a continuation of the decline.
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
If you have an interest in any area of Forex Trading, this is where you want to be.
Global Fx Trading Group is a world leader in providing Fx services, o individual traders, including: Unmatched funding programs, on-line education, virtual trading rooms, automation tools, robot building, and personal coaching.
The company was first established by Jeff Wecker, former member of the Chicago Board of Trade, with 25 years in the industry. Jeff has a keen understanding of the needs of Forex traders and those needs are our focus.
Please join our VIP Group while is still FREE …
https://t.me/joinchat/JqsXFBKpyj3YS4bLWzT_rg
Our mission is simple: To enhance as many lives as we can through education and empowerment.
#theforexarmy #forexsigns #forexsignals #forexfamily #forexgroup #forexhelp #forexcourse #forextrade #forexdaily #forexmoney #forexentourage #forextrading #forex #forexhelptrading #forexscalping #babypips #forexfactory #forexlife #forextrader #financialfreedom
