01.08.202204:56 Forex Analysis & Reviews: Forecast for GBP/USD on August 1, 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.

On Friday, the pound traded in a range of target levels of 1.2100 and 1.2230 with an overlap. The day eventually closed at the opening level, and the price continued to rise this morning.

The situation is brewing for the price to break through the area above the target level of 1.2230, which will lead to a complex, highly volatile price growth to the level of 1.2435. The Marlin Oscillator is growing in the positive area and is always ready to support the price in this direction.

On the four-hour chart, the signal line of the oscillator has turned up from the border with the bears' territory, the price is growing above the balance (red) and MACD (blue) indicator lines. We follow the success or failure of the price in overcoming the nearest resistance at 1.2230. Will cancel the growth scenario, consolidating under 1.2100.

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.