09.12.202405:13 Forex Analysis & Reviews: Forecast for GBP/USD on December 9, 2024

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On Friday, the British pound extended its upward movement but encountered resistance at the daily balance line and the 1.2816 resistance level, which it failed to reach. Under consolidated pressure, the price retreated close to the support level of 1.2708.

The Marlin Oscillator is moving horizontally, maintaining optimism for further growth. On the 4-hour chart, Friday's decline was halted at the balance line, coinciding with the Marlin Oscillator touching the zero line.

The primary scenario suggests further growth toward the untested target range of 1.2816/47. The Simple Moving Average (MA144) also supports the price, represented by the green moving average line.

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