For Traders

Analytical Reviews

Technical analysis

15.05.201906:28 Forex Analysis & Reviews: Forecast for GBP/USD on May 15, 2019

This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here.

GBP/USD

Under the general pressure of the US dollar (0.16%), the British pound lost 52 points. Labor data in the UK were slightly worse than expected; the average wage in the 1st quarter added 3.2% against an expectation of 3.4%, the number of applications for unemployment benefits reached 24.7 thousand compared to the forecast of 24.2 thousand while the previous figure was 22.6 thousand, but the actual level of unemployment fell from 3.9% to 3.8%.

On the daily chart, the marlin oscillator has not yet penetrated deep into the decline territory, which implies a rather deep fall of the price, about 250 points, which is about 1.2660 - the target level we determined was a low on December 4 and August 15 of last year. But the nearest target of the pound is the range of 1.2772-1.2814, a low defined on February 14 and at most on December 31.

On the four-hour chart, the situation is steadily declining.

Back to the list

Open trading account

InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.