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

GBP/USD

Yesterday, the pound tested the resistance of the target level of 1.3950 with the upper candlestick shadow. It closed the day with a decline and this morning, it is going down ahead of the market. The intention is clear - to overcome the support of the MACD line on the daily chart in order to clear the way to the target level of 1.3630.

The price has settled below the MACD line and below the balance line on the four-hour chart. The Marlin oscillator is declining in the downward trend zone. We look forward to the pound's succeeding decline.