FX.co ★ Forecast for GBP/USD on November 6, 2019

GBP/USD

The price of the British pound has not significantly changed by the end of Tuesday. As a result, this was reflected in the strengthening of technical signs to a further decrease. The Marlin oscillator on the daily chart is about to enter the negative trend zone. Leaving the price below the signal level of 1.2840 opens the way to lower target levels that can be taken sequentially: 1.2748 (the October 17 low), 1.2703 (the October 11 high), 1.2650 (the October 14 high).

On the H4 chart, the price has consolidated under the balance indicator line, Marlin is in the declining trend zone. We look forward to continued fall of the British pound. Formally, the price remains in the range of uncertainty at 1.2840-1.2905.