FX.co ★ Forecast for GBP/USD on February 17, 2023

Pound is persistently approaching the target support at 1.1900 (November 30 low). Just this morning, it broke through the nearest low of February 7.

A consolidation below the level will open the way to the target level of 1.1737 (top on September 13, 2022). Since the Marlin oscillator is slipping into a negative area, the margin for downside movement is substantial.

On the four-hour chart, the pair is below the balance line, while the Marlin oscillator is going flat. The latter has a chance of continuation such a move today.