FX.co ★ Forecast for GBP/USD on October 28, 2019

GBP/USD

On Friday, the British pound stopped in a decline at the Fibonacci level of 110.0%, probably accumulating strength to achieve lower goals - the signal line of the Marlin oscillator is declining quite confidently. Today, Parliament votes on early elections on December 12. Parliament's decision will depend on Boris Johnson's agreements with Labor leader Jeremy Corbyn on the condition that he doesn't leave the EU without a deal. We expect a downward reaction from the markets in case of positive changes, as all optimism has been thrown out a week before today.

On a four-hour chart, the price has consolidated below the indicator lines, the Marlin oscillator is in the decline zone. We are waiting for the price to consolidate below the Fibonacci level of 123.6% (1.2744).