Forecast for GBP/USD on March 5, 2021


The British pound dropped 56 points yesterday after it pierced the 1.3950/65 target range by the upper shadow. The Marlin oscillator boldly began to delve into the bears' territory. Now there are two nearest target levels: 1.3822, 1.3727. Once the price settles below the MACD line (1.3727), which will not be easy, since the price settled there back in January, we expect the quote to fall to 1.3460 and further into the target range of 1.3190-1.3275.


The price continues to move towards the closest target of 1.3822 on the four-hour chart, with the support of the Marlin oscillator, which settled in the negative area.


The material has been provided by InstaForex Company -