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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 July 19, 2024
22:09 2024-07-18 UTC--5
Exchange Rates analysis

GBP/USD

The pound no longer has enough strength to rise further. The price reversal occurred on the horizontal divergence of the Marlin oscillator—the pound was rising with its last strength.

Nevertheless, the reversal has just begun, and for confirmation, the Marlin oscillator must enter the downtrend territory. On the other hand, if the price manages to do so first, it needs to overcome the support at 1.2847.

analytics6699d7841f4f8.jpg

A downward trend has formed on the 4-hour chart: the Marlin oscillator has settled and is developing a decline below the zero line, while the price has settled below both indicator lines. We expect the pound to reach the target level of 1.2847. Today, the UK will release its retail sales data for June – the forecast is -0.6% (0.2% y/y versus 1.3% y/y in May).

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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.