FX.co ★ Forecast for GBP/USD on February 16, 2021

GBP/USD

The British pound is striving by all means to reach the 1.3950/65 target range. Successfully breaking it will open the 1.4070 target - the range of the high of the final week of February 2018 and the low of January 2017. The Marlin oscillator seeks to work out the upper border of its own rising channel. This moment warns us about a possible price correction from the target range, as an option, back to the 1.3835 level, after which growth may continue.

The risk of divergence remains on the four-hour chart. Working on this pair is associated with an increased risk. The 1.3835 target level is strengthened by the support of the MACD line, which is approaching it.