29.08.202205:08 Forex Analysis & Reviews: Forecast for GBP/USD on August 29, 2022

This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here.

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.

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.

Back to the list

Open trading account

InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.