For Traders

Analytical Reviews

Technical analysis

19.08.202205:14 Forex Analysis & Reviews: Forecast for GBP/USD on August 19, 2022

This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here.

Yesterday, the British pound overcame the support of the MACD line with acceleration on the daily chart, and continues its downward movement this morning. The Marlin Oscillator has settled in the downtrend zone, it has a long way ahead, and the nearest price targets are the levels of 1.1800 and 1.1660.

UK retail sales for July are due out today, expected to contract by 0.2% after a 0.2% decline in June sales. Britain's public sector net borrowing in June is projected to grow from 22.1 billion to 25.3 billion. From the side of statistics, the pound also has no support.

The price settled below the level of 1.1963 (the daily MACD line) on the four-hour chart, the Marlin Oscillator is slightly turning up. If there is a correction, then we do not expect it above the resistance of 1.1963.

Back to the list

Open trading account

InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.