11.09.202005:22 Forex Analyse & Reviews: Forecast for GBP/USD on September 11, 2020

GBP/USD

The British pound lost195 points yesterday on fears of a UK exit from the EU without a deal. We reached our June 10 high target at 1.2812. After setting the price below yesterday's low, we expect it to fall to 1.2725, 1.2645. The targets are determined at the Fibonacci levels of 100.0% and 110.0%.

Exchange Rates 11.09.2020 analysis

The price has converged with the Marlin oscillator on the four-hour timeframe. This is a prerequisite for correctional growth before the British pound falls to new targets. A correction is possible to the Fibonacci level of 76.4% at the price of 1.2912.

Exchange Rates 11.09.2020 analysis

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

Uitgevoerd door Laurie Bailey,
Analytische expert
InstaForex Group © 2007-2020
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