empty
 
 
28.09.2023 06:33 AM
Forecast for GBP/USD on September 28, 2023

GBP/USD

Over the course of Wednesday, the British pound fell by 24 pips, settling below the embedded line of the price channel. The Marlin oscillator is showing an upward reversal within its own descending channel. A break above may synchronize with the price returning above the price channel line (1.2190), giving the pound a strong bullish momentum.

This image is no longer relevant

The current daily candle is already on the 9th Fibonacci time zone line, but we expect the pair to rise on Monday when we officially receive an announcement that some government services in the United States will be closed.

This image is no longer relevant

On the 4-hour chart, a convergence is developing between the price and the oscillator. The price may advance even further once it surpasses the resistance of the MACD indicator line (1.2196), which is close to the daily price channel line. The price will likely consolidate near these levels today.

Laurie Bailey,
Analytical expert of InstaForex
© 2007-2025
Summary
Urgency
Analytic
Yuriy Zaycev
Start trade
Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $6000 more!
    In December we raffle $6000 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.
    JOIN CONTEST
  • 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.
    JOIN CONTEST
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS

Recommended Stories

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