empty
 
 
nl
Ondersteuning
Direct openen van een account
Trading Platform
Storting/opname

02.05.202405:02 Forex Analyse & Reviews: Forecast for GBP/USD on May 2, 2024

GBP/USD

Yesterday, the British pound unexpectedly returned to the intermediate resistance at 1.2525 – the lows of February 5th and 14th, and the 38.2% Fibonacci level. Despite the intermediate status of this level, its influence is increasing day by day.

Exchange Rates 02.05.2024 analysis

If the price manages to consolidate above it, with the support of the Marlin oscillator, which has already entered the positive territory, it will be able to reach the target of 1.2596, which it did not reach on the 29th. If the price consolidates below the level of 1.2525, it will be much easier for it to fall by one figure to the target of 1.2427. Further targets are indicated.

Exchange Rates 02.05.2024 analysis

On the 4-hour chart, the price is trying to rise as it is above both indicator lines. The Marlin oscillator intends to turn downwards from the boundary of the uptrend territory. Today, we do not expect strong movement as US employment data will be published tomorrow.

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.

Laurie Bailey,
Analytical expert of InstaSpot
© 2007-2024
Benefit from analysts’ recommendations right now
Top up trading account
Open trading account

InstaSpot analytical reviews will make you fully aware of market trends! Being an InstaSpot client, you are provided with a large number of free services for efficient trading.

Kan u nu niet praten?
Stel uw vraag in de chat.