Forecast for GBP/USD on August 30, 2021

GBP/USD

The pound, after creating a local low on August 20, has formed a new upward price channel, starting from the March 2020 low. The Marlin oscillator has moved into the zone of positive values, into the zone of an upward trend, now we expect the price to continue to rise to the nearest embedded line of the price channel around 1.3858 (the level coincides with the lows of March 2, April 27). The closest resistance is the MACD indicator line at 1.3798, which coincides with May 2021's low.

analytics612c443a2e40f.jpg

The price settled above the indicator lines on the H4 chart, above the intermediate target level of 1.3747, gathering strength before the attack at 1.3798.

analytics612c4445af4b9.jpg

The material has been provided by InstaForex Company - www.instaforex.com

Pages