FX.co ★ Forecast for GBP/USD on November 27, 2023

GBP/USD:

On Friday, the British pound showed significant growth, consolidating above the level of 1.2524. Since the nearest target of 1.2645 is quite close, it becomes intermediate, and the pair may aim for 1.2745 directly.

The signal line of the Marlin oscillator has complicated and extended the formation of a wedge. Therefore, we expect a test of its lower band before a break above. Today's session is likely to result in a small black candle. We expect the pair to firmly rise on Tuesday.

On the 4-hour chart, the Marlin oscillator has established an uptrend, with the price rising above both indicator lines. The Thursday high of 1.2572 acts as support.