FX.co ★ Forecast for GBP/USD on November 22, 2023

GBP/USD

On Tuesday, the British pound rose above the target level of 1.2524. It may reach the 1.2645 target, but a brewing divergence between the price and the Marlin oscillator may slow down the upward movement. Closing today's session with a white candle may mitigate the risk of a divergence.

If the price drops below 1.2524, and the divergence intensifies, the price may linger below the specified level until next week, as the United States observes holidays on Thursday and Friday.

On the 4-hour chart, the signal line of the Marlin oscillator is consolidating in a sideways movement within an uptrend. We can observe a consolidative phase above the level of 1.2524, which will act as support. The price could rise towards the target of 1.2645.