Forecast for GBP/USD on March 3, 2021


Yesterday, the British pound did not have enough strength to break away from the target range of 1.3950/65, it returned to it and now it got stuck in the range for the entirety of today's Asian session. The Marlin oscillator shows an intention to turn deeper to the downside on the daily chart, therefore, if the price leaves the range, it will not be significant. We are waiting for a new attack on1.3822, then to the MACD line in the consolidation area of the third decade of January (1.3715).


The price is settling in the target range of 1.3950/65 on the four-hour chart, there is still the possibility of a slight increase, which is created by the Marlin oscillator, which has not yet reached the resistance of the zero line - the border with the territory of positive values (an upward trend).


The material has been provided by InstaForex Company -