FX.co ★ Forecast for GBP/USD on March 11, 2021

GBP/USD

On the daily chart, the pound is approaching the target level of 1.3950 with the reversal of the signal line of the Marlin oscillator from the border to the upside. We can assume that 1.3950 will not be reached. But even if a short-term breakthrough occurs, it will not affect the general reversal outlook for the British currency. The European Central Bank meeting will take place today, and so we expect the euro and pound to fall. The target for the decline is 1.3775, the MACD indicator line.

The price is trying to break out of the MACD line on the four-hour chart, while the Marlin oscillator has fallen into the horizon. We are waiting for the results of the ECB meeting and the market reaction to them.