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26.03.201906:44 Forex Analysis & Reviews: Forecast for GBP/USD on March 26, 2019

Long-term review
This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here.

GBP/USD

Yesterday, the British pound went through slight fluctuations around January's high (1.3216), but not having positive news about Brexit (there was only a rumor about preparing the ground for Theresa May's resignation), the pound is stuck in technical resistance on a lower time frame, and this morning it is again aiming for bearish levels.

Exchange Rates 26.03.2019 analysis

The first such significant level is the MACD line of the daily scale at a price of 1.3018. Below we see the support of the embedded line of the price channel of the weekly timeframe - approximate target of 1.2884.

Marlin oscillator readings of both graphs are neutral. The Parliament's expected adoption of the May-EU deal, previously rejected twice, in our opinion, does not seem to have a strong positive impact on the market.

Exchange Rates 26.03.2019 analysis

Laurie Bailey
Analytical expert of InstaForex
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