07.12.2022 05:18 AM
Forecast for GBP/USD on December 7, 2022

Yesterday, the pound opened and closed the day under the target level of 1.2200. It means that the price settled under this level, and the target is now the support at 1.1933, which is the low of June 14.

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The signal line of the Marlin oscillator is going under the lower limit of its own range, and soon we might see it in a downtrend. It is possible that the market is already experiencing the pressure of the double divergence (azure line), it will form and will be a confirmation of the reversal in the medium-term perspective.

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On the four-hour chart, the price has settled under the MACD indicator line. The Marlin oscillator is moving deeper into the bears' territory. We see a downtrend.

Laurie Bailey,
Analytical expert of InstaForex
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