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09.05.201906:08 Forex Analysis & Reviews: Forecast for GBP/USD on May 9, 2019

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GBP/USD

On Wednesday, the pound sterling did not look for a place to exploit and preferred to move along the path of a lesser resistance. They were reduced to a Fibonacci level of 23.6% on a daily scale chart. The daily decline was 68 points. As a result, the price consolidated below the balance and MACD lines on the daily and four-hour charts. Conditions for a further decline are formed. It remains to wait for the actual signal - they will leave the price below yesterday's low of 1.2986. The goal is the range of 1.2772-1.2814.

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