Forecast for GBP/USD on March 24, 2021


The pound lost 110 points yesterday, gaining a foothold below the MACD indicator line on the daily chart. The price has reached the consolidation range, but it looks like it will try to pass it, reaching the lower border of the range in the area of the 1.3625 target level. By this time, the Marlin oscillator will enter the oversold zone and it will be more convenient for the price to develop a correction from this very level.


The Marlin oscillator has slowed the pace of its decline on the four-hour timeline. Now it may take around two days for it to reach 1.3625. We are waiting for investors to take profit on short positions in the afternoon, since Friday is a holiday in Europe and America.


The material has been provided by InstaForex Company -