Trading Conditions
Products
Tools
The British pound has not outpaced the euro in its gradual decline following the recent European Central Bank meeting. It has confirmed its consolidation below the balance and MACD indicator lines. For the pound to move more decisively toward 1.2186, it needs to break through the support level of 1.2367.
In the four-hour timeframe, the price is consolidating below the balance line and approaching the MACD line. A consolidation below this level and a break under 1.2367 would pave the way for a decline toward the target support at 1.2186.
Additionally, the signal line of the Marlin oscillator is consolidating below the zero line, indicating that it remains in a downward trend. We expect further development of this bearish movement.
Today's U.S. data on personal income and spending is forecasted to show solid growth, which is likely to reinforce the strengthening bearish trend for the pound.
InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.
We may place cookies for analysis of our visitor data, to improve our website and measure advertising performance. Overall this data is used to provide a better website experience. More information
Your IP address shows that you are currently located in the USA. If you are a resident of the United States, you are prohibited from using the services of Instant Trading EU Ltd including online trading, online transfers, deposit/withdrawal of funds, etc.
If you think you are seeing this message by mistake and your location is not the US, kindly proceed to the website. Otherwise, you must leave the website in order to comply with government restrictions.
Why does your IP address show your location as the USA?
Please confirm whether you are a US resident or not by clicking the relevant button below. If you choose the wrong option, being a US resident, you will not be able to open an account with InstaForex anyway.
We are sorry for any inconvenience caused by this message.