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30.05.2023 05:47 AM
Forecast for GBP/USD on May 30, 2023

GBP/USD

The pound sterling is rising for the third day. It's probably aiming for the narrow range of 1.2400/43, where it felt comfortable a week ago, before the dollar conducted its recent short-term attack. Now the pound is preparing to meet the news regarding the US debt limit.

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The Marlin oscillator is rising ahead of the price, so this growth looks like a deflation, relieving the tension from the oscillator before it falls further. As a result, we expect the price in the target range of 1.2125/53, which was set by the highs on December 28 and November 24, 2022.

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On the four-hour chart, the Marlin oscillator breaks into the positive area, which indicates the bulls' clear intention to reach the 1.2400/43 range, and this will be a false exit above the MACD line on both scales.

Laurie Bailey,
Analytical expert of InstaForex
© 2007-2024
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