FX.co ★ Forecast of GBP/USD on March 30, 2020

GBP/USD

The British pound added three figures on Friday, having worked the Fibonacci level of 138.2% on the daily chart. The signal line of the Marlin oscillator has entered a growth zone, before the price, the target is open at 1.2540 at the Fibonacci level of 123.6%. The exit of the price above the level opens the next target of 1.2645. a price reversal from the Fibonacci level of 138.2% will allow the price to fulfill the target of 1.2235, consolidating below it opens the way to 1.1935 - the Fibonacci level of 200.0%.

On the four-hour chart, the signal line of the Marlin oscillator with a noticeable slope is turning down, probably a decreasing scenario, as a correction from growth since March 20, becomes the main one. The lowest correction is seen at the Fibonacci level at the price of 1.2235, consolidation below the level opens the prospect of deepening to 1.1935 at the Fibonacci level of 200.0%, which will also be 50% of the total growth from March 20.

With the price overcoming the level of 1.2235, we open sales with the target of 1.1935, S/L 1.2310, with the release of the price above Friday's high of 1.2484, we open purchases with the target of 1.2645, S/L 1.2380. Due to the high volatility of the market, large sizes of restrictive stops, it is advised to work with low orders.