Real-time stock and forex trading analysis, featuring market trends, price fluctuations, and actionable trading ideas. With detailed charts and expert insights, it helps users make informed decisions in a streamlined, user-friendly interface.

Wednesday, September 9, 2020

Forecast for GBP/USD on September 10, 2020

GBP/USD

The British pound traded in the range of 76.4-61.8% Fibonacci levels on Wednesday, closing the day near the upper level (61.8%). The price settled under both indicator lines - the blue MACD line and the red balance line. This means that the market is settling in a downward trend. The nearest target for the pound is 1.2912, the 76.4% Fibonacci level. Overcoming the level opens the main goal of 1.2812 - the June high.

analytics5f59a93ecb337.jpg

The four-hour chart shows a downward trend with no signs of a reversal or deep correction. The correction at the 61.8% level has probably ended, and the Marlin oscillator will not enter the growth zone. We are waiting for the price to fall to the designated goals.

analytics5f59a941cb15f.jpg

The material has been provided by InstaForex Company - www.instaforex.com

No comments: