With GBP/USD surpassing the resistance level of 1.2307 and the signal line of the Marlin oscillator continuing to rise in the positive zone, the price has all the reasons to hit 1.2444.
Forecasts say good GDP and industrial production data will come out in the UK, with the former showing a growth of 0.2% after a decline of -0.5% in July. Meanwhile, the latter will still be in the negative at -0.2%, but on the yearly basis, it will show a growth of 0.4% to 1.7%.
On the four-hour chart, the pair trades above the level of 1.2307. However, the Marlin oscillator lies within a range, so some consolidation may occur. Wait for the upcoming UK data.
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
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