15.06.202004:51 Forex Analysis & Reviews: Forecast for GBP/USD on June 15, 2020


The British pound fell 63 points on Friday, breaking the support of the Fibonacci level of 123.6%. The pound's nearest target is the Fibonacci level of 138.2%, then 161.8%. But there is one nuance here - the signal line of the Marlin oscillator came close to the border of the bears' territory, and this border is an independent level of support and resistance, which can provoke a corrective reversal of the oscillator line and the price itself. Marlin's transition to a negative trend will occur when the price overcomes the Friday low of 1.2473.

Exchange Rates 15.06.2020 analysis

The price is declining without signs of a reversal (correction) on the H4 chart. These signs are more likely to appear when the price reaches the target level of 1.2424.

Exchange Rates 15.06.2020 analysis

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.

Laurie Bailey,
Analytical expert
InstaForex Group © 2007-2021
Benefit from analysts’ recommendations right now
Top up trading account
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.

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