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17.06.201906:49 Forex Analysis & Reviews: Forecast for GBP/USD for June 17, 2019

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GBP/USD

Last Friday, the pound sterling closed the day below the first target at 1.2610 - a low of August 15, 2018. According to all signs of the indicators, the situation is definitely decreasing. On the daily, the Marlin oscillator signal line is in the decline zone, the price is below all indicator lines on H4, and Marlin is also in the decline zone, indicating only the probability of a correction at the current moment. The completion of the correction is expected in the area of 1.2610. Buyers have nothing to rely on; Boris Johnson is in the lead for the Conservative Party leader elections, slowdowns are expected on England's Wednesday for inflation, the Bank of England announces a monetary policy decision on Thursday, which will obviously be expectantly alarming. But even earlier, on Wednesday, the Fed could destroy the overvalued market expectations for three rate cuts, reporting only one.

We look forward to the pound's decline towards a price of 1.2530, a low on December 14, 2018. Consolidating below the level opens the way to support the price channel line of the daily chart at a price of 1.2350.

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