Forecast for GBP/USD on October 5, 2021

GBP/USD

The British pound is rapidly recovering its losses on September 28-29. To consolidate the trend, it needs to exit above the daily MACD indicator line, above 1.3674. In this case, the target will open at 1.3848 - the embedded price channel line. The Marlin Oscillator is growing, today the growth has slowed down, perhaps this is the market respite.

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On the four-hour scale, the price settled above the balance and MACD indicator lines, Marlin in the growth zone. The trend is upward. Under the influence of external factors, the correction may continue, its support is the MACD line (level 1.3550).

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

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