Forecast for GBP/USD pair on June 3, 2019

Posted On 03 Jun 2019

GBP / USD pair

On Friday, the sterling pound did not reach the bearish target of 1.2530 and sharply turned up, forming a convergence with the Marlin oscillator on the daily scale this morning. At the moment, the price is trying to move above the recent support of 1.2660 in order to try to grow even higher towards the resistance line of the price channel at 1.2756, which also corresponds to the maximum on May 20.

On the four-hour chart, the price is fixed above the MACD indicator line and the Marlin oscillator is in the growth zone. Considering indicators on both of the graphs, the pound’s desire for further growth can be determined.

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Source:: Forecast for GBP / USD pair on June 3, 2019

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