FX.co ★ Forecast for GBP/USD on June 3, 2022

Yesterday, the British pound turned into a local increase from the support level of 1.2476. Growth stopped on the balance indicator line of the daily scale. The Marlin Oscillator does not support the price's optimism, so the price is most likely to return to the range of 1.2436/76. Leaving the area under its lower border opens the target of 1.2250.

On the four-hour scale, the price found resistance from the balance indicator line, sufficient for a reversal. If, however, the existing resistance is not enough, then it will increase many times at the target level of 1.2637, since the MACD indicator lines of both time scales coincide at this level.

The Marlin Oscillator on H4 is moving to the right along the zero line, at the moment it is in a trailing position. The general downward trend, we are waiting for the price to return to the range of 1.2436/76.