FX.co ★ Forecast for GBP/USD on July 1, 2021

GBP/USD

Yesterday, the British pound traded in a range of 74 points on GDP data - the indicator showed a 1.6% decline against expectations of -1.5%. The pound closed the day with a decrease of 5 points, this morning the downward movement continues.

US employment data will be released tomorrow, so the pound does not need to stay ahead of events and break through the lows of June 18 and 21 (1.3786). The Marlin oscillator has already fallen into the horizon on the daily chart in anticipation of these events.

Yesterday, the range was limited by the MACD line at the top and the target level at 1.3800 at the bottom on the H4 chart. Marlin is also in a sideways trend here.

So, today we expect low volatility, and tomorrow the price could fall. The long-term target is 1.3670.