FX.co ★ Forecast for GBP/USD on October 4, 2022

The British pound showed a strong growth yesterday, winning back a new local wave of risk appetite, following the growth of stock indices, raw materials, and a halt in the growth of yields on British government bonds.

The price went above the target level of 1.1305, the Marlin Oscillator moved into the area of positive values - into the area of the growing trend. The way to the next target - 1.1480 - to the MACD indicator line on a daily scale has opened. A reversal may occur after the price returns to the level of 1.1170.

On a four-hour timescale, the signal line of the Marlin Oscillator is consolidating above the zero line, creating tension for a breakout of the oscillator to the upside. The price settled above the level of 1.1305. After reaching the 1.1480 target, the price is likely to turn either into a new correction or into a new wave of medium-term decline.