Forex Analysis & Reviews: Forecast for GBP/USD on September 13, 2022

Yesterday, the pound rose by 93 points, the resistance level of 1.1648 was overcome. Now the price can work out the resistance of the MACD indicator line (1.1755).

At the same moment, the signal line of the Marlin Oscillator may turn down after touching the border with the growth area. In this case, we expect a decrease below 1.1525. This is the main scenario. Price exit above resistance 1.1815 opens the 1.2005 target.

There is a mini-consolidation of the price after breaking above the level of 1.1648 on the four-hour chart. Probably, this is preparation for working out 1.1755. In any case, whether this residual growth takes place or not, after consolidating under 1.1648, the target 1.1525 will open. The MACD line is approaching this level.

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.

Analysis are provided by InstaForex

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