FX.co ★ Forecast for GBP/USD on October 9, 2023

GBP/USD

On the daily chart, Friday's candle opened and closed above the green price channel line, indicating a daily close above this line.

We expect the pair to surpass the target level of 1.2307, and the price will continue to rise toward the 1.2444 target, where the price channel line is located near the target level. The signal line of the Marlin oscillator has crossed above the zero line into positive territory.

On the 4-hour chart, the signal line of the Marlin oscillator has rebounded for the second time from the support of the zero line and simultaneously from the MACD indicator line. With the price above the indicator lines, we expect a brisk rise.