Forecast for GBP/USD on June 1, 2020

GBP/USD

The pound could not gain a foothold over the signal level of 1.2362 last Friday, it only did so in the morning. The 1.2422 target for the Fibonacci level 138.2% on the daily chart, obviously, will be taken, consolidating above it on the lower timeframe will allow the price to continue rising to the second target of 1.2540 – to the Fibonacci level 123.6%. The Marlin oscillator is optimistically growing in the positive trend zone.

The price consolidated above the signal level of 1.2362 on the H4 chart this morning, the signal line of the Marlin oscillator is growing after a Friday reversal from the boundary with the territory of the negative (decreasing) trend.

Exchange Rates 01.06.2020 analysis

Source: Forecast for GBP/USD on June 1, 2020

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