Forecast for GBP/USD on October 25, 2021

GBP/USD

The pound continues to rise on October 25.

An increase was observed this morning after Friday's price drop by 38 points, when the price stopped at the support of the balance indicator line. The Marlin Oscillator is turning up, and if the support turns out to be strong, then the growth may continue to the nearest line of the price channel around 1.3907. This target coincides with the peaks on September 14 and July 12.

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On the four-hour scale chart, the price went above the balance and MACD indicator lines, but has not yet settled above them.

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The Marlin Oscillator shows a reversal in the downward trend zone. Closing today with a white candle will strengthen the price reversal intention, while the price drift below Friday's low of 1.3735 will deepen the correction around the level of 1.3670, from which the price reversed on October 8 and 14 (check marks on the chart).

The material has been provided by InstaForex Company - www.instaforex.com

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