FX.co ★ GBP/USD

GBPUSD Price Forecast: The chart for four - hours. Strong indicators point to the impending reversal of the present increasing - trend. The MACD indicator might show a bearish divergence. Confirmation must also come from the rising support - line collapsing. After breaking through, the price returned to this line as if to say goodbye. There was almost a Fibonacci - break at 24.8 during the corrective - fall, but this would not be enough. There will still be a decline to 39.4. Since this level almost matches the standard technical - level of 1.33851, you may ignore the disparity. The Fibonacci - grid indicates that we will shortly reach 38.4. My analysis of yesterday's GBPUSD market action served as the basis for the GBPUSD price - forecast. Yesterday saw a significant - decline in the GBP/USD pair. The price of this GBP - USD pair fell 159 pips from 1.32401 to 1.32551 on the last day. In the early morning before the day began, the GBPUSD price rose once again to 1.33551. Only in response to the 1.33751 supply area will the GBPUSD price be adjusted. When the GBPUSD falls, a demand area of 1.31951 emerges. There could be an increase today. The GBPUSD price may test the resistance at 1.34651 before breaking through the supply at 1.35051, given that the price - movement began higher today. That is why, If the price falls below 1.33801 and remains below the support level, it might fall considerably lower to 1.31751.