Forecast for GBP/USD on March 1, 2021

GBP/USD

The pound's decline currently speaks for itself. After overcoming the 1.3950/65 target range, the first target at 1.3830 will open, then the target along the MACD line at 1.3702. This target is in the consolidation range of the last decade of January (gray area), from which a correction to 1.3830 is possible, after which a fall with renewed strength, where you can aim for 1.3565.

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The price rose above the 1.3950/65 range on the four-hour chart, remaining below the indicator lines. The Marlin oscillator is in a downward trend zone. The correction may end at the MACD line in the area of 1.4050.

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

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