Stock market analytics, financial forecasts

Forexmart's Market Analysis section provides up-to-date information about the financial market. The overviews are intended to give you an insight into current trends, financial forecasts, global economic reports, and political news that influence the market.

Disclaimer: Information provided here to retail and professional clients does not contain and should not be construed as containing investment advice or an investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance.

Forecast for GBP/USD on October 20, 2022

21:56 2022-10-19 UTC--5

According to the UK inflation figures released yesterday, it became clear that the record high inflation of the last 40 years at 10.1% is not going to decrease. The pound lost 0.94% during the day.

On the daily chart, the price turned down from the point where the balance and MACD indicator lines coincide. Now the price is approaching the support at 1.1170, overcoming which opens the target at 1.0810 – the nearest green price channel line from the monthly timeframe.

The price settled below the MACD line on the four-hour chart. The signal line of the Marlin Oscillator below the zero line - in the downward trend area. The price is preparing to overcome the support of 1.1170.

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Stock market analytics, financial forecasts

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