FX.co ★ Forecast for GBP/USD on June 27, 2023

GBP/USD

On Monday, the British pound traded within Friday's range, which did not change the technical situation. The Marlin oscillator keeps going down on the daily chart, with the signal for acceleration being a price move below the support level of 1.2678. The target would be 1.2600.

The pair could further fall towards the MACD line around 1.2515. A breakout above 1.2785 could extend the growth towards the resistance level at 1.2870.

On the four-hour chart, the price is leaning towards a decline below the balance indicator line (red). The Marlin oscillator is moving sideways in negative territory. We should monitor the price behavior at the level of 1.2678.