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06.08.201905:55 Forex Analysis & Reviews: Forecast for GBP/USD on August 6, 2019

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GBP/USD

The intensification of political friction between the US and China did not affect the British pound, as it showed an increase of only 2 points on Monday. Accordingly, the situation on the pound maintains a declining attitude towards targets of 1.2032/55 and further to 1.1986.

On the four-hour chart, the price continues to consolidate in the range from July 30th. The signal line of the Marlin oscillator also lies in the horizontal direction. At the moment, the price is below the balance line, just above it is part of the consolidation range of the MACD line, which is an independent resistance line. We are waiting for the price to exit consolidation downwards.

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