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06.06.201906:40 Forex Analysis & Reviews: Forecast for GBP/USD for June 6, 2019

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GBP/USD

On the daily chart, the British pound did not reach the price channel line slightly (a target of 1.2756). Due to the rapid price drop in the evening, the signal line of the Marlin oscillator also did not reach the border line with the territory of the bulls.

To further reduce the price, it is necessary to overcome the level of 1.2660, which is the low of December 4 and August 15, 2018. At this moment the signal line of the marlin oscillator on H4 will be in the decline zone. Success will pave the way to the closest target level of 1.2603 - the low of May 23 and the MACD line of the four-hour chart. Next, 1.2530 is the low of 14 December.

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