FX.co ★ Forecast for GBP/USD on March 16, 2023

Yesterday, the market fell (dollar index -1.01%), and the pound lost 101 points. On the daily chart, sterling stopped falling near the zero line of the Marlin oscillator.

Now the price is stalling before it falls further. Let's look at it in more detail on the smaller chart.

On the four-hour chart, the price lingered on the MACD indicator line, the Marlin oscillator has settled under the zero line and is waiting for a momentum (I expect it to be a downward one). Locking the price below the MACD line (below 1.2040) will fuel the bears, who will try to reach the target level of 1.1914 (low of February 17).