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Forecast for GBP/USD on June 11, 2020

GBP/USD

The pound sterling overcame the Fibonacci level of 100.0% yesterday, but in case the price returns to this level with consolidation today, yesterday's exit will be interpreted as false and will become its own and additional reversal factor. The immediate goal of going down to 1.2645 is the Fibonacci level of 110.0% on the daily chart, but it is still an intermediate goal to move up to 1.2540 - to the Fibonacci level of 123.6%.

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On the four-hour chart, the level of 1.2645 coincides with the approaching MACD line, respectively, the price overcomes two levels at once which will then cause the pound to sharply fall. A double divergence is formed on the Marlin oscillator. We are waiting for the development of a downward movement.

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The material has been provided by InstaForex Company - www.instaforex.com