Register
Demo
Contacts
 

Stock market analytics, financial forecasts

Forexmart's Market Analysis section provides up-to-date information about the financial market. The overviews are intended to give you an insight into current trends, financial forecasts, global economic reports, and political news that influence the market.

Disclaimer:  Information provided here to retail and professional clients does not contain and should not be construed as containing investment advice or an investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance.

Forecast for GBP/USD on June 3, 2024
01:46 2024-06-03 UTC--5
Exchange Rates analysis

GBP/USD

The British pound continues to rise ahead of the upcoming European Central Bank and Federal Reserve meetings. If the pound maintains this momentum, it could reach the target level of 1.2826 by the ECB meeting on June 6. By then, a divergence with the Marlin oscillator might form. We can confirm the sharp rise once the price breaks above Friday's high of 1.2765.

If the price falls back below the 1.2745 level, it might continue to gradually fall towards 1.2635, potentially accelerating this movement around the ECB meeting.

On the 4-hour chart, the price has reached the resistance of the Kijun-Sen indicator line (1.2765). The Marlin oscillator has settled in the positive territory.

analytics665d30dc661ef.jpg

If the oscillator, as a leading indicator, manages to pull the price above the Kijun-Sen line and above Friday's high, the pound could aim for the 1.2826 target.

If the price consolidates below the 1.2745 level, it must break Friday's low of 1.2699 to move towards 1.2635.

Back to the list 
1

World-Class Trading Platform

Professional Customer Support

Best Execution

Logo

QUICK LINKS

+ 442 030 976 697
Contact Us
Feedback
twitter

ForexMart is authorized and regulated in various jurisdictions.

(Reg No.23071, IBC 2015) with a registered office at First Floor, SVG Teachers Co-operative Credit Union Limited Uptown Building, Corner of James and Middle Street, Kingstown, Saint Vincent and the Grenadines

Restricted Regions: the United States of America, North Korea, Sudan, Syria and some other regions.


© 2015-2025 Tradomart SV Ltd.
Top Top
Risk Warning:
Foreign exchange trading carries a high risk of losing money due to leverage and may not be suitable for all investors. Before deciding to invest your money, you should carefully consider all the features associated with Forex, as well as your investment objectives, level of experience, and risk tolerance.
Foreign exchange trading carries a high risk of losing money due to leverage and may not be suitable for all investors. Before deciding to invest your money, you should carefully consider all the features associated with Forex, as well as your investment objectives, level of experience, and risk tolerance.