Forecast for GBP/USD on July 2, 2019


No matter how much the British pound tried to overcome the accumulation of technical resistance at the same time on the daily and four-hour charts, it could not do it. However, we are inclined to believe that the pound did not have such a desire, since trading volumes in the last four sessions were on the decline. On the daily chart, the resistance was the embedded line of the price channel and the balance line (red indicator), on the four-hour balance line and the MACD line (blue).

At the moment, the Marlin oscillator signal line on the daily has been slightly delayed at the border with the territory of decline. On H4, this line is in consolidation, perhaps a short continuation. Immediate targets: 1.2530 - a low of December 14, 2018, then 1.2305 - support for the embedded line of the price channel at the point of coincidence with the November 2016 low.



The material has been provided by InstaForex Company -