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Forecast for GBP/USD on October 31, 2019

GBP / USD

As a result of Wednesday, the pound has grown by 44 points after the Fed trims the rate from 2.00% to 1.75%. On the daily chart, the Marlin Oscillator is reluctant to turn after the price, which warns of a short-term growth prospect. The immediate goal is the Fibonacci level of 76.4% at the price of 1.2987. Overcoming the level will make it possible for the price to grow further to the Fibonacci level of 61.8% at the price of 1.3060.

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On the four-hour chart, the price went above the red indicator line of the balance, shifting the local market sentiment towards purchases, but the MACD line is located near the target level at the Fibonacci level of 1.2987. This range (1.2975 / 87) will now be the target.

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The material has been provided by InstaForex Company - www.instaforex.com
via Forecast for GBP/USD on October 31, 2019
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