empty
 
 
02.05.2019 06:41 AM
Forecast for GBP/USD on May 2, 2019

GBP/USD

Yesterday, the British pound tried to go beyond the resistance of the balance and MACD indicator lines on the daily scale. However, the pound sterling was stuck in the resistance and failed to reach the 1.3125 - 50% correction from the movement since March 13. The day closed below the MACD line and under the Fibonacci level of 38.2% (1.3060).

On the four-hour chart, a slight divergence of the price with the Marlin oscillator was formed. It can signal a reversal though, especially since this is a reversal of the correction.

The first target for the pound is the MACD line on the H4 at the level of 1.2960, which corresponds to the low of 11 March. Breaking the support, we are waiting for a more pronounced market sentiment to achieve a range of 1.2772-1.2814.

This image is no longer relevant

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 $1000 more!
    In April we raffle $1000 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