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

GBP/USD

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
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