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05.06.201907:51 Forex Analysis & Reviews: Forecast for GBP/USD on June 5, 2019

GBP/USD

Following Tuesday's results, the British pound grew by 35 points, consolidating above the price level of 1.2660 (minimum of August 2018), anticipating the achievement of the goal of 1.2756 – the resistance of the nested line of the price channel of the higher timeframe. A notable event yesterday was the statement of US President Donald Trump about a "phenomenal" deal after the UK's exit from the EU. We would not pay attention to Trump's next "phenomenal" statement, if it were not logical in the overall geopolitical chain of US events, regarding the reform of trade agreements leading to new projects of global Transoceanic trade agreements. Perhaps, it will even be a single Settlement Agreement, instead of the abolished WTO. It's a long time, Trump will not have enough of a second presidential term. But so far, in our opinion, events are developing in this direction.

In the current situation, the signal line of the Marlin oscillator is approaching the border with the territory of the trend growth, where it can meet resistance and the price, having reached the target, turn down from it – either in correction, back to 1.2660, or in continuation of the medium-term decline on the expectations of Brexit. After May's departure, her "bad" agreement in the evaluation of politicians will become even worse in the perception of investors.

Exchange Rates 05.06.2019 analysis

*La presente analisi del mercato ha un carattere esclusivamente informativo e non rappresenta una guida per l`effettuazione di una transazione.

Laurie Bailey,
Esperto analitico di InstaForex
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