empty
 
 
11.06.2019 06:37 AM
Forecast for GBP/USD for June 11, 2019

GBP/USD

On Monday, the British pound lost 52 points due to the release of bad economic data. Industrial production in April fell by 2.7% against the forecast of -0.7%, GDP for April fell by -0.4% against the expectation of -0.1%.

The price turned from the resistance of the embedded line of the price channel of the daily chart, at the same time the line of Marlin turned from the border with the growth area.

This image is no longer relevant

On the four-hour chart, the Marlin oscillator signal line is fixed in the negative zone, at the moment the price is testing the red indicator balance line for durability. Leaving the price below the balance line will mean a trend shift towards the direction of a decline. We expect that the price will cope with this support and with the support of the MACD line (1.2633) due to the trend of daily scale, the goal of reducing 1.2610 is the low of August 15, 2018.

This image is no longer relevant

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