FX.co ★ Forecast for GBP/USD on October 14, 2022

The British pound is running away with increased energy from critical supports, the transition to which from the technical side prescribes it to fall into the abyss (under parity with the dollar). Expectations of a rate hike by the Bank of England at a meeting on November 3 served as an incentive for the pound.

Yesterday the price overcame two levels of resistance and is now approaching the daily MACD line and the target level of 1.1500. Consolidation above it opens the target at 1.1760 (July low). The Marlin Oscillator is growing in the positive area.

The price settled above the level of 1.1305 on a four-hour scale. The price is above both indicator lines, the Marlin Oscillator is growing in the upward trend area. We are waiting for the price at the nearest target level of 1.1500.