Analytical Reviews

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Forecast for GBP/USD on September 10, 2024
23:54 2024-09-09 UTC--4

Yesterday, the British pound worked through the entire range of levels from 1.3080 to 1.3120, closing the day below support. This morning, the decline continues. The Marlin oscillator on the daily time frame is breaking into the downtrend territory. The target of 1.2994 is open.

UK employment data will be released today. July's unemployment rate is expected to decrease from 4.2% to 4.1%. Germany's CPI for August is anticipated to decrease from 2.3% y/y to 1.9% y/y. The pound may continue to slide towards the specified target.

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In the 4-hour chart, the price consolidated below the level of 1.3080. The Marlin oscillator is steadily declining in the downtrend territory. The MACD line has turned downwards. The current trend is downward.

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Foreign exchange is highly speculative and complex in nature, and may not be suitable for all investors. Forex trading may result in a substantial gain or loss. Therefore, it is not advisable to invest money you cannot afford to lose. Before using the services offered by ForexMart, please acknowledge the risks associated with forex trading. Seek independent financial advice if necessary. Please note that neither past performance nor forecasts are reliable indicators of future results.