16.12.202205:15 Forex Analysis & Reviews: Forecast for GBP/USD on December 16, 2022

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The pound fell 247 points on Thursday. The reason for this was the Bank of England meeting, where two members of the committee voted to keep the rate unchanged. But as the other 7 members of the Committee voted to raise the rate, it was raised by 0.50%. The bottom shadow of the daily candlestick reached the support at 1.2155. Moving below it will open the next target at 1.1933.

The Marlin oscillator attracts attention. It now has a triple factor of decline: double divergence, coming out of the range down (pink lines), falling into negative territory. The price will probably need some time to pause after such a significant movement, but in the future we expect the price at the specified target.

On the four-hour chart, the price has settled under both indicator lines, the Marlin oscillator is developing in the downtrend area. We expect the price to settle under 1.2155.

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