FX.co ★ Forecast for GBP/USD on May 25, 2020

GBP/USD

The British pound overcame the support of the MACD line on the daily chart. The Marlin oscillator has been in the zone of negative values since May 11 - the downward trend is strengthening. The first target of the bears is 1.1935 is the Fibonacci level of 200.0%. The prospect of a decline of 1.1500 is the support of the embedded line of the price channel in the region of the Fibonacci level of 261.8%.

The price found moderate support at the signal level of 1.1265 on the H4 chart. Consolidating under the support will set the basis for a new momentum for the British pound's downward movement. We are waiting for the main events tomorrow, since it is a public holiday today in the US and Great Britain.