GBP / USD

On Friday, the US dollar is under pressure and British PMI services had declined from 55.1 to 53.5 in July, while the pound sterling also reduced by 16 points. The daytime time frame showed that the price was formally fixed under the trend line (the depth of the candle is small) and now, all the conditions for further reduction to next support line of 1.2790 have been reached. The Marlin Oscillator is declining.

There is no further movement shown in the 4-hour chart. The price goes down under two indicator lines, the Marlin oscillator with a rising line shows a reduction which is the standard behavior after the previous strong movement.

* The presented market analysis is informative and does not constitute a guide to the transaction.