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Forex Analysis:::2019-06-13

Forecast for GBP/USD for June 13, 2019

GBP/USD

Yesterday, the pound sterling moved down from the signal level of 1.2762, overcoming of which would be a sign of further growth to the MACD line of the daily scale in the 1.2875 area. The daily Marlin oscillator signal line continues to move along the boundary of growth and decline zones. On the four-hour chart, the price was stuck below the balance indicator line and the Marlin oscillator moved to the decline zone, but in order to further decline you would need to consolidate below the MACD line (1.2664), then a short-term decrease to the target level of 1.2610, which is the low of 15 August 2018, will appear. Overcoming this level creates more reliable conditions for a medium-term decline, the first goal of which will be the level of 1.2530 - a low of December 14, 2018.

Another attempt to increase the price with consolidation above 1.2762 (a high of 7 June) opens up growth prospects to the MACD line of daily scale in the area of 1.2875.

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Laurie Bailey
Analyst InstaForex
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