empty
 
 
03.04.2024 05:00 AM
Forecast for GBP/USD on April 3, 2024

GBP/USD

The British pound rose by 26 pips yesterday, with corrections reaching 38.2% of Monday's range. This is enough for the price to resume its downward movement towards the target level of 1.2500.

This image is no longer relevant

The Marlin oscillator is also inclined to exert pressure on the price by moving deeper into negative territory. Today, the US will release ADP employment data and ISM Services PMI for March. Market players expect optimistic values. These reports may provide a good reason for the dollar to rise.

This image is no longer relevant

On the 4-hour chart, the pair is steadily declining; yesterday, the price moderately increased without breaking through the resistance of the indicator lines, and the Marlin oscillator did not change the downtrend, as it remains in bearish territory. Overall, if the pair continues to correct higher, there is a small chance of surpassing 1.2596. We expect the price to reach the target level of 1.2500.

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 $9000 more!
    In May we raffle $9000 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