Forecast for GBP/USD on March 2, 2021

GBP/USD

Yesterday, the British pound settled below the target range of 1.3950/65, now it is ready to mark the February 17 low at the target level of 1.3822. Since the consolidation on February 10-12 is taking place at the target level on the daily chart, a correction or a new short-term consolidation is possible. Getting the pair to settle below 1.3822 will open the 1.3710 target - the MACD line of the daily timeframe, which is in a longer consolidation in the third decade of January.

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The Marlin oscillator shows an upward mood on the four-hour chart, but so far it is developing within the oscillator's dissolution without reversal patterns. We are waiting for the price to move to the target range of 1.3810/22. On the way to it there is an intermediate support (not marked on the daily chart) at 1.3865.

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

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