FX.co ★ The pressure on the British pound remains

GBP / USD

After the decline of the dollar at 0.35% on Friday, the British pound grew by 27 points. Growth was delayed by the red balance line at 1.3314. The Marlin indicator line moved to a positive territory, but in order for this output to be correct, it is necessary to overcome the new local high at 1.3314. In case that the oscillator line return to the zero line, the price would likely fell to the trend line support at 1.3090.

On the 4-hour chart, the price lies on the blue line as the Marlin line goes down without a lead which can keep the price from a sharp decline. Also the price is supported by the balance line on the chart (red):

Today, May sales of new homes in the US will be released with a forecast of 665 thousand against 662 thousand in April. To date, we are only waiting for the effort to fix the price for the balance sheet (1.3216).

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