Forecast for GBP/USD on February 18, 2021

GBP/USD

The pound fell by 45 points yesterday and the decline paused at the target level of 1.3835. Of course, the price needs to settle below it in order to be able to fall to the target level of 1.3565. But the MACD line is already above this level on the daily chart, therefore, a new intermediate target is created in the 1.3625 area.

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Also, the Marlin oscillator is still in the growth area, so the reversal slowly takes place and you are advised to open short positions with reduced trading lots.

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The price is supported by the MACD line on the four-hour timescale. Being able to settle below it and under the 1.3835 level will be the first signal that the price would fall. Marlin is already in a downward trend, in the bear's territory.

The material has been provided by InstaForex Company - www.instaforex.com

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