FX.co ★ Forecast for GBP/USD on September 27, 2024

The British pound made a decisive move yesterday, once again reaching the upper boundary of the wedge on the daily chart. We believe the price may repeat such a test of the line 2-3 more times before it turns downward from a stronger magnetic point. This point appears to be the intersection of the wedge boundary with the embedded price channel line around the 1.3454 mark.

The anticipated reversal seems to be corrective. A divergence between the price and the Marlin oscillator is already forming. The price continues to move above both indicator lines on the four-hour chart.

The Marlin oscillator has entered positive territory but is currently testing the zero line from above. If the corrective decline develops, it is expected to reach no lower than 1.3300, as the MACD line will soon reinforce this level.