empty
 
 
11.12.2019 05:03 AM
Forecast for GBP/USD on December 11, 2019

GBP/USD

The pound reached the target of 1.3206 at the Fibonacci level of 200.0% on Tuesday and sharply turned down from it. The convergence on the Marlin oscillator is almost ready, it remains only to wait for its confirmation. Formally, such a confirmation will be a price drop below the Fibonacci level of 161.8% (1.2968).

This image is no longer relevant

On the four-hour chart, the expected convergence formed in a strongly inclined form, after the signal line went into the negative zone. This is a strong reversal pattern. The stop of the price reduction occurred on the MACD line.

This image is no longer relevant

Here the price may be delayed until the news from the Federal Reserve meeting. Price fall below the MACD line (1.3104) opens the target at 1.2968. Consolidating the price at 1.2968 tomorrow will indicate that the pound is overestimated at current levels, in anticipation of the outcome of parliamentary elections in the UK and the results will be known on Friday morning.

So, we anticipate the British pound at the price of 1.2968 tomorrow.

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