empty
 
 
20.06.2018 08:08 AM
British pound can quickly go downward

GBP / USD

Yesterday, the British pound lost 72 points under the pressure of the dollar strengthening, the pessimistic outlook for Brexit and the optimistic expectations of tomorrow's meeting of the Bank of England.

This image is no longer relevant

The immediate support for the pound can serve as a trend line of the embedded price channel (1.3096). Next comes the range of 1.3025 / 55 which are the lows of October and November last year. After overcoming this support zone, it is possible to reduce to the next trend line of the channel - 1.2872.

This image is no longer relevant

On the 4-hour chart, the price in the Marlin oscillator formed a convergence which may indicate the potential price consolidation, but the signal line of the indicator fits into the wedge, which a sharp exit downwards can be expected.

* The presented market analysis is informative and does not constitute a guide to the transaction.

Laurie Bailey,
Analytical expert of InstaForex
© 2007-2024
Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $8000 more!
    In March we raffle $8000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 100% Bonus
    Your unique opportunity to get a 100% bonus on your deposit
    GET BONUS
  • 55% Bonus
    Apply for a 55% bonus on your every deposit
    GET BONUS
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS

Recommended Stories

Can't speak right now?
Ask your question in the chat.
Widget callback