FX.co ★ Forecast for GBP/USD on October 9, 2019

GBP/USD

The British pound has been falling since the beginning of the week, losses amounted to 72 points yesterday. There are 60 points left to the nearest target of 1.2155 on the morning of today. Slightly lower is the support of the embedded line of the price channel at around 1.2128, and perhaps this goal will be worked out before the correction from the ongoing fall. Consolidating the price at 1.2128 opens the way for a fall to the Fibonacci level of 271.0% at the price of 1.1986.

On a four-hour chart, the price is under the balance and MACD lines, the Marlin is in the decline zone. We are waiting for the development of lower targets.