Forecast for GBP/USD on March 9, 2021


The pound settled below the target level of 1.3822 yesterday, while the Marlin oscillator continues to move with force into the downward trend zone. It looks like the price is preparing to overcome not only the support of the MACD line at 1.3745, but also the entire accumulation range of the third decade of January (gray area on the chart). The target is the 1.3630 level.


The signal line of the Marlin oscillator reverses from the border of the growth area on the four-hour chart, while the price is below the balance and MACD indicator lines. We are waiting for the attack on the MACD line of the daytime (1.3745) and further advance towards the 1.3630 target.


The material has been provided by InstaForex Company -