29.08.2022 05:08 AM
Forecast for GBP/USD on August 29, 2022

Last Friday, the pound once again bounced as part of the upward correction from August 23, marking in the area where the balance and MACD indicator lines coincide on the daily scale chart and fell, closing the day with a loss of 94 points.

This image is no longer relevant

At the moment the price is testing the target level of 1.1650. Having overcome it, a close target at 1.1650 opens. Behind it is the 1.1525 target. The Marlin Oscillator still has enough room ahead for an easy move before it enters the oversold zone.

The price settled below the indicator lines on the H4 chart, the Marlin Oscillator is falling in negative territory. The trend is downward.

Laurie Bailey,
Analytical expert of InstaForex
© 2007-2024
Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex always strives to help you
    fulfill your biggest dreams.
  • Chancy Deposit
    Deposit your account with $3,000 and get $1000 more!
    In April we raffle $1000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
  • 100% Bonus
    Your unique opportunity to get a 100% bonus on your deposit
  • 55% Bonus
    Apply for a 55% bonus on your every deposit
  • 30% Bonus
    Receive a 30% bonus every time you top up your account

Recommended Stories

Can't speak right now?
Ask your question in the chat.
Widget callback