02.06.202306:20 Forex Analysis & Reviews: Forecast for GBP/USD on June 2, 2023

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 rebounded from the support of the MACD indicator line (daily) and surged up by 138 points. It gained 84 points in a day, and surpassed the balance indicator line, which determines the balance between buyers and sellers. There are 60 points left for it to reach the target level of 1.2583.

Surpassing this level will allow the price to fully correct the decline from May 10th (1.2678), which is already the first sign of growth towards the next target level at 1.2785. The signal line of the Marlin oscillator has entered the positive area, supporting the price.

On the four-hour chart, the price is rising vigorously above both indicator lines, while the Marlin oscillator is slightly decreasing, likely preparing for growth upon the release of US employment data.

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.