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30.05.202305:47 Forex Analysis & Reviews: Forecast for GBP/USD on May 30, 2023

GBP/USD

The pound sterling is rising for the third day. It's probably aiming for the narrow range of 1.2400/43, where it felt comfortable a week ago, before the dollar conducted its recent short-term attack. Now the pound is preparing to meet the news regarding the US debt limit.

Exchange Rates 30.05.2023 analysis

The Marlin oscillator is rising ahead of the price, so this growth looks like a deflation, relieving the tension from the oscillator before it falls further. As a result, we expect the price in the target range of 1.2125/53, which was set by the highs on December 28 and November 24, 2022.

Exchange Rates 30.05.2023 analysis

On the four-hour chart, the Marlin oscillator breaks into the positive area, which indicates the bulls' clear intention to reach the 1.2400/43 range, and this will be a false exit above the MACD line on both scales.

*La presente analisi del mercato ha un carattere esclusivamente informativo e non rappresenta una guida per l`effettuazione di una transazione.

Laurie Bailey,
Analytical expert of InstaSpot
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