FX.co ★ Forecast for GBP/USD on February 14, 2023

Since the dollar weakened yesterday (-0.30%), the pound rose by 82 points. The price stopped at the resistance of 1.2155.

The signal line of the Marlin oscillator is still in the red zone, but if the price simultaneously moves above 1.2155 and the oscillator moves into the green zone, the price will rise to the nearest resistance of 1.2275 - to the MACD line on the daily chart. If the same coordinated reversal of the price and the oscillator happens, the price will head towards the support of 1.1900.

The first sign of the reversal is when the price crosses the support line of the MACD line on the four-hour chart around 1.2100. A confirmation of the reversal is when the price crosses yesterday's low at 1.2030.