Forecast for GBP/USD on June 17, 2021


The British pound dropped 91 points on Wednesday, breaking the first target of the bears at 1.4004. Now the second target (1.3918) is open - the high on April 6. The 1.3800 level is the low on May 3.


The price settled below the target level of 1.4004 on the four-hour time scale, the Marlin oscillator is discharging after a quick move into the oversold zone. Upon completion of the correction, we expect the price to further decline to the specified target level of 1.3918.


The material has been provided by InstaForex Company -