empty
26.09.2022 04:56 AM
Forecast for GBP/USD on September 26, 2022

The British pound fell by an incredible 417 points (-3.65%) on Friday, reaching strong support from the 1.0830 price level and price channel line of the monthly timeframe. This morning, during the first four hours of the trading session, the price fell by another 490 points in the moment, winning back half of the fall in the next half hour.

This image is no longer relevant

Now the price is between the target levels of 1.0310 and 1.0535. The Marlin Oscillator is in the oversold zone, the ultra-high volatility of the pound indicates its potential correction in the near future. The optimal strategy in this situation would be to wait for the correction to be completed and then open new short positions. The nearest target at 1.0310, formed by the embedded line of the price channel, remains unworked out. Leaving the area under it opens the 1.0140 target.

This image is no longer relevant

On a four-hour scale, the Marlin Oscillator is already headed for a correction - the price is consolidating under the level of 1.0535. We are waiting for the correction to be completed, the market to be calm, and the price to move down further.

Laurie Bailey,
Analytical expert of InstaForex
© 2007-2025
Select timeframe
5
min
15
min
30
min
1
hour
4
hours
1
day
1
week
Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST

Recommended Stories

Can't speak right now?
Ask your question in the chat.
Widget callback
 

Dear visitor,

Your IP address shows that you are currently located in the USA. If you are a resident of the United States, you are prohibited from using the services of InstaFintech Group including online trading, online transfers, deposit/withdrawal of funds, etc.

If you think you are seeing this message by mistake and your location is not the US, kindly proceed to the website. Otherwise, you must leave the website in order to comply with government restrictions.

Why does your IP address show your location as the USA?

  • - you are using a VPN provided by a hosting company based in the United States;
  • - your IP does not have proper WHOIS records;
  • - an error occurred in the WHOIS geolocation database.

Please confirm whether you are a US resident or not by clicking the relevant button below. If you choose the wrong option, being a US resident, you will not be able to open an account with InstaForex anyway.

We are sorry for any inconvenience caused by this message.