The forecast for GBP / USD for October 30, 2018


The British pound is even closer on Monday to the control level of 1.12775, the consolidation under which will allow you to feel the strength to go to the strong nested line of the price channel in the area of 1.2620.The attack on the control level will coincide with the turn of the signal line of the Marlin oscillator on the four-hour chart.



The price output above the resistance of the trend line of the price channel (higher than yesterday's maximum) will allow the price to break through to the resistance of the Kruzenshtern trend indicator line on a daily scale (1.2936). The level is strong, at least on October 3 and a maximum of August 22 (approximately). We are waiting for a reversal from it to 1.2620. This scenario has expectations for today's data. CBI's retail sales balance in the UK from October is expected to increase from 23 to 27. The US consumer confidence index from the Conference Board in October is expected to decrease from 138.4 to 136.3. In general, the situation remains more "bearish".

The material has been provided by InstaForex Company -