FX.co ★ Forecast for GBP/USD on November 22, 2022

The pound fell by 0.62% (68 points) as the dollar index strengthened by 0.78% yesterday, which by this morning, creates conditions that are not bad for recommencing growth. The price stayed in the 1.1737-1.1940 range.

But the price is still under pressure due to the divergence with the Marlin oscillator, so the growth may only look like a false breakout above the 1.1940 level (break of the upper shadow). If bears prevail, the price will likely move away from the current levels under 1.1737, and settling further will open the next target at 1.1500.

On the four-hour chart, the price is moving above the MACD line and tries to rise above the balance line. The Marlin oscillator's intention to go above the zero line is clear. The main scenario seems to be a sideways movement with an attempt to rise above 1.1940. Let's wait until the direction is more stable.