Forecast for GBP/USD on September 29, 2022 | Market Analysis
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Forecast for GBP/USD on September 29, 2022
22:59 2022-09-28 UTC--4

Yesterday's trading range for the pound was 380 points. The lower shadow worked out the support at 1.0535, the upper part of the candle, on the occasion of such a high volatility, went above the strong resistance at 1.0830.

But this morning the market returns to its previous state - below this level and towards 1.0535. The rate of decline may now slow down, but its targets remain: 1.0535, 1.0310.

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On the four-hour chart, the price returns below the level of 1.0830. Consolidation below it will strengthen the attraction of the target level of 1.0535. By this time, the Marlin Oscillator should move into negative territory to help the price in this difficult matter.

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Foreign exchange is highly speculative and complex in nature, and may not be suitable for all investors. Forex trading may result in a substantial gain or loss. Therefore, it is not advisable to invest money you cannot afford to lose. Before using the services offered by ForexMart, please acknowledge the risks associated with forex trading. Seek independent financial advice if necessary. Please note that neither past performance nor forecasts are reliable indicators of future results.