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FX.co ★ Forecast for GBP/USD on August 29, 2022

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.

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Forecast for GBP/USD on August 29, 2022

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.

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade
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