Forecast for GBP/USD on September 2, 2020

GBP/USD

Yesterday's trading appeared like a high shadow on the daily chart, the target level of 1.3515 was not reached. The Marlin divergence has not yet formed, but if today is a black candle, it may just form. In this case, we are waiting for the price at the first target of 1.3213 at the Fibonacci level of 38.2%.

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There are no reversal signs on the four-hour chart yet. To do this, the signal line of the Marlin oscillator must move into the zone of negative values, which could happen earlier, or the price should overcome the 23.6% Fibonacci level at 1.3328, which may happen later, but it will become a more confident reversal sign.

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We are waiting for the price to settle under the Fibonacci level of 23.6%. Afterwards, the price will attack the 38.2% Fibonacci level (1.3213).

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