FX.co ★ Forecast for GBP/USD on March 20, 2023

On Friday, the pound rose by 67 pips, it broke through the balance indicator line and linear price resistance of 1.2155. The Marlin oscillator is rising, the next nearest resistance is the MACD line near 1.2270 (February 14 high).

On the four-hour chart, the price is above 1.2155 again (after March 13), the Marlin oscillator is moving sideways, but still in the positive area. The British pound will probably continue its gradual rise before the FOMC release.

The price has a lot of work to do to change the trend. The first thing is to overcome the support of 1.2155, then go under the MACD line around 1.2095.