Forecast for GBP/USD on June 25, 2019



GBP/USD
Yesterday, the pound solved the main task for the possibility of further growth - it consolidated above the line of the price channel on the daily chart. The balance line was on top of a strong resistance. The daily Marlin oscillator signal line lies at the horizon, which makes it possible for the pound to continue its slow growth below the balance line and reach the MACD line (1.2832), presumably at the point where both indicator lines coincide. From this point, a reversal or correction is likely.

There is a weak convergence on the four-hour chart on the Marlin oscillator, but nevertheless it is closer in form to consolidation in the growth zone, which may soon continue to increase the indicator and price.

A signal for a reversal will be the departure of the price below the price channel line on the daily chart and below the MACD line (1.2690) at the four-hour price.

Analysis are provided byInstaForex.