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15.11.201906:30 Forex Analysis & Reviews: Forecast for GBP/USD on November 15, 2019

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GBP/USD

Amid the general weakening of the dollar, the British pound gained 32 points yesterday. Wide-range consolidation between Fibonacci levels of 23.6% and 0.0% at 245 points continues. The Marlin oscillator is being kept below the border with the zone of positive values, this is a sign of the near completion of growth. With the overcoming of the signal level of 1.2768, the 1.2703 target opens, then we wait for the quotation at 1.2608 - this is the 38.2% Fibonacci level which the MACD line also strives for.

On a four-hour chart, the price consolidates above the lines of balance and MACD, Marlin in the growth trend zone. The price may modify the growth line to Fibonacci levels of 61.8% (1.2896) and 76.4% (1.2926). An increase in the decline is likely after overcoming the support of the MACD line and the Fibonacci level of 23.6% (1.2817).

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