21.06.201906:27 Forex Analysis & Reviews: Forecast for GBP/USD on June 21, 2019

GBP/USD

On Thursday, the pound sterling currently grew by more than 80 points. This is a solid growth, so the strength to overcome the resistances in the form of the price channel line of the weekly timeframe and the balance line (indicator red) was no longer enough. On the four-hour chart, the Marlin oscillator signal line lay sideways, probably, this is a sign of the market accumulating forces before further growth, as the oscillator is leading, but it does not decrease. The goal of the expected growth is the MACD line on the daily chart, at around 1.2840. The signal line of the Marlin oscillator for daily is growing in the zone of positive values. Exit prices above 1.2725 will be a signal for further growth.

But despite the technically favorable situation for growth, the decline has its own reasons. These reasons: closing positions on Friday in order to lock in the profit of speculative growth. We still continue to believe that the growth of counterdollar currencies over the past two days has been more on emotional factors; the possibility of the release of today's good data on the US - home sales on the secondary real estate market in May are projected at 5.29 million against 5.19 million in April and growth in Services PMI in June from 50.9 to 51.0. The support is the four-hour MACD line at 1.2670.