Forecast for GBP/USD on May 29, 2023
May 29, 2023 4:22 amVideo
Latest News
- Analysis of GBP/USD on April 26th. The pound trades on Friday without changes April 26, 2024
- USD/JPY: Simple trading tips for novice traders on April 26th (US session) April 26, 2024
- GBP/USD: Simple trading tips for novice traders on April 26th (US session) April 26, 2024
- EUR/USD: Simple trading tips for novice traders on April 26th (US session) April 26, 2024
- GBP/USD: trading plan for the US session on April 26th (analysis of morning deals). The pound attempted, but it didn’t go April 26, 2024
- EUR/USD: trading plan for the US session on April 26th (analysis of morning deals). The euro continues to rise April 26, 2024
- Trading Signals for GOLD (XAU/USD) for April 26-29, 2024: buy above $2,324 and sell below $2,352 (21 SMA – 6/8 Murray) April 26, 2024
- Technical Analysis – AUDUSD set to complete best week of the year April 26, 2024
- Will Apple finally drop its AI hint? – Stock Markets April 26, 2024
- Bitcoin slips as markets pare back Fed rate cuts – Crypto News April 26, 2024
- EUR/USD. April 26th. Bulls continue to advance after the GDP report April 26, 2024
- Can Chinese PMIs solidify the economy’s recovery prospects? – Preview April 26, 2024
- Weekly Forex Outlook: 26/04/2024 – Hawkish risk as Fed and NFP on tap, Eurozone data eyed too April 26, 2024
- XM’s Lombok Collaboration: Brightening Futures April 26, 2024
- Week Ahead – Hawkish risk as Fed and NFP on tap, Eurozone data eyed too April 26, 2024
- Market Comment – Yen keeps sinking after Bank of Japan decision April 26, 2024
- Fed faces dilemma amid sticky inflation and slowing economy – Preview April 26, 2024
- USD/JPY: trading tips for beginners for European session on April 26 April 26, 2024
- GBP/USD: trading tips for beginners for European session on April 26 April 26, 2024
- EUR/USD: trading tips for beginners for European session on April 26 April 26, 2024
GBP/USD:
On Friday, the price tried to test the resistance of the MACD indicator line on the daily chart, but it failed. This pattern often leads to a resumption of the decline rather than a repeated attempt to overcome this line.
If the main scenario unfolds and the price breaches the support level of 1.2273, the target becomes the range of 1.2125/53, defined by the highs of December 28 and November 24, 2022. Breaking the resistance of the MACD line (1.2400) is not yet a condition for growth, as there is further linear resistance at 1.2443.
On the four-hour chart, the price reversed from the resistance of the balance indicator line, and the Marlin oscillator’s signal line turned downward from the border of the area of the uptrend. The main direction is downward. If the price tries to go for an alternative path, it will encounter resistance at the MACD line (1.2395), the MACD line on the daily chart (1.2400), and the actual linear resistance at 1.2443.
The material has been provided by InstaForex Company – www.instaforex.com
Related Posts: