empty
 
 
02.07.2024 05:32 AM
Forecast for GBP/USD on July 2, 2024

GBP/USD

Yesterday, the British pound reached the intermediate target of 1.2701 on its way to 1.1745, but as expected, it lacked the strength to rise further. The reverse movement turned out to be even stronger. At the moment, the price is at Friday's opening level.

This image is no longer relevant

Now, in a relatively calm pre-holiday market, the price may struggle with the Kijun-sen line and the support level at 1.2596. In addition, the Marlin oscillator's signal line is starting to turn from the upper boundary of its descending channel.

This image is no longer relevant

On the 4-hour chart, the price consolidated below the descending balance and Kijun-sen indicator lines. The Marlin oscillator has entered negative territory and is heading towards the lower boundary of the ascending channel. We expect gradual progress on the downward movement with an attempt to consolidate below the support at 1.2596.

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 $4000 more!
    In July we raffle $4000 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