06.09.202205:22 Forex Analysis & Reviews: Forecast for GBP/USD on September 6, 2022

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 opened with a gap of 31 points on the first day of the week, fell a bit more during the day, and then closed the gap before the close of the session. This morning the gains picked up, probably on the news that Liz Truss is becoming British prime minister. She promised to lower taxes during the election campaign.

The price approached the 1.1600 resistance on the daily chart. A transition above the level opens the target at 1.1650, and then there may be an increase to 1.1815 or slightly lower, to the MACD line (1.1755). The Marlin Oscillator turned up sharply and this is a harbinger of a correction.

The price broke above the MACD line on the four-hour chart, Marlin consolidated in the positive area. There are all prerequisites for continued growth to at least 1.1650. After the completion of the correction, a new medium-term downward movement is likely.

Back to the list

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.