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17.07.202404:51 Analisis Forex & Kajian: Forecast for GBP/USD on July 17, 2024

GBP/USD

The pound showed a symbolic growth at the end of Tuesday, but the price divergence with the Marlin oscillator slightly increased. The price may not rise above the resistance at 1.2989, but instead it will fall towards the support level at 1.2847.

Exchange Rates 17.07.2024 analysis

Yesterday, core sales for June rose 0.4%, retail sales remained flat in June 2024, unchanged from May. The US Q2 GDP forecast from FRB Atlanta was raised from 2.0% to 2.5%. It seems to be a good time for the dollar to turn around following good economic reports.

Exchange Rates 17.07.2024 analysis

On the 4-hour chart, the Marlin oscillator signal line briefly went into negative territory. This morning, the Marlin came close to this boundary again. Overcoming the support of the MACD line (1.2912) opens the way to the target levels of 1.2847 and 1.2755.

* Analisis pasaran yang disiarkan di sini adalah bertujuan untuk meningkatkan kesedaran anda, tetapi tidak untuk memberi arahan untuk membuat perdagangan.

Laurie Bailey,
Analytical expert of InstaSpot
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