empty
 
 
You are about to leave
www.instaforex.eu >
a website operated by
INSTANT TRADING EU LTD
Open Account

29.10.202405:39 Forex Analysis & Reviews: Forecast for GBP/USD on October 29, 2024

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.

The British pound is pressing more firmly against the 1.2994 resistance level, with the Marlin oscillator moving higher and pulling further away from its October 23 low. A firm hold above 1.2994 would open up a target at 1.3080—a goal the pound may reach before the presidential exit polls.

Exchange Rates 29.10.2024 analysis

If the price falls below the lower boundary of the price channel at 1.2927, it may face another push down to 1.2859. However, this is an alternative scenario under current conditions.

Exchange Rates 29.10.2024 analysis

On the four-hour chart, the price failed to consolidate above the balance indicator line yesterday, making it a target for today. A consolidation above this line would shift market sentiment toward buying, making the 1.3080 target accessible. The Marlin oscillator has already supported this move by consolidating in positive territory.

Laurie Bailey
Analytical expert of InstaForex
© 2007-2024

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.




You are now leaving www.instaforex.eu, a website operated by INSTANT TRADING EU LTD
Can't speak right now?
Ask your question in the chat.

Turn "Do Not Track" off