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01.05.201906:27 Forex Analysis & Reviews: Forecast for GBP/USD on May 1, 2019

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.

GBP/USD

Yesterday, the British pound tried to use the temporary weakness of the dollar as much as possible – the pound rose by 100 points, the price on the daily scale at the peak of the day slightly fell short of the resistance of the Fibonacci level of 38.2% and the MACD line, which can happen today with the expected turn down. But this main scenario has a weak point, namely the exit of the Marlin line on the daily chart to the growth zone. This is a sign of a possible longer correction, for example, to the level of Fibonacci 50.0% at the price of 1.3125. In the perspective of several days, we are waiting for a decrease in the pound in the range of 1.2772-1.2814.

Exchange Rates 01.05.2019 analysis

Exchange Rates 01.05.2019 analysis

Laurie Bailey
Analytical expert of InstaForex
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