Forecast for GBP/USD on May 1, 2019

GBP/USD

Yesterday, the British pound tried to use the temporary weakness of the dollar as much as possible – the pound rose by 100 points, the price on the daily scale at the peak of the day slightly fell short of the resistance of the Fibonacci level of 38.2% and the MACD line, which can happen today with the expected turn down. But this main scenario has a weak point, namely the exit of the Marlin line on the daily chart to the growth zone. This is a sign of a possible longer correction, for example, to the level of Fibonacci 50.0% at the price of 1.3125. In the perspective of several days, we are waiting for a decrease in the pound in the range of 1.2772-1.2814.

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