FX.co ★ Forecast for GBP/USD on October 5, 2022

The pound has almost reached the MACD indicator line on the daily timescale. The Marlin Oscillator is starting to turn down.

This is probably still the limit of the pound's correctional growth, and now it needs to think about how to settle under the nearest level of 1.1305. After that, the task of developing a medium-term decline will be greatly facilitated. An exit above 1.1500 with a consolidation above the MACD indicator line of the daily timeframe can once again push the price up to the level of 1.1760.

On the four-hour chart, despite the strong three-day growth, the Marlin Oscillator refuses to grow, it continues to move sideways just above the zero line. This circumstance increases the chances of a price reversal from current levels. The start of the medium-term decline can push the price to consolidate at 1.1305.