Forecast for GBP/USD on March 19, 2021


Yesterday, the pound, like other currencies, turned down after the emotional growth during the Fed meeting on Wednesday. Against this reversal, the Bank of England's meeting from yesterday passed by and almost had no effect on the pound, which is symptomatic of further price behavior. But the BoE was in a depressed mood. Unlike the Fed, it did not see growth prospects for the British economy.


On the daily chart, the first support is the MACD line (1.3838). Getting the pair to settle below it will set a medium-term decline for the pound. The first target is 1.3625. The Marlin oscillator turned to the downside from the border of the growth area.


Marlin entered the negative area on the four-hour chart, while the price is set to break the support of the MACD line around 1.3870. The white candle fell during the BoE meeting and its growth was weak, up to the target level of 1.3950, from which two black candles have already formed... We expect the pound to weaken.

The material has been provided by InstaForex Company -