29.11.202407:44 Forex Analysis & Reviews: GBP/USD Forecast for November 29, 2024

Relevance up to 21:00 2024-11-29 UTC--5

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On the daily chart of the GBP/USD pair, the price is approaching resistance at 1.2708. If this level is surpassed, the price may continue its upward movement toward 1.2773, followed by a secondary target at 1.2859.

The price outlook appears optimistic, as the Marlin oscillator has moved into the positive trend zone, providing support for the upward trajectory.

On the four-hour chart, the Marlin oscillator is showing signs of weakness. This may lead to divergence with the price. The price needs to stabilize above 1.2708 to avoid a significant decline. A break below the November 27 high (1.2693) could push the price back toward the support level at 1.2612.

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