FX.co ★ Forecast for GBP/USD on August 22, 2023

GBP/USD

Monday closed with a white candle. This morning, the price is rising above the Fibonacci corrective level of 23.6%. The nearest resistance to growth is the MACD indicator line at the level of 1.2792. Consolidation above the line opens the target at 1.2880 – the 50.0% correction level.

The Marlin oscillator is approaching the border of the uptrend territory. The synchronous crossing of the zero line by the oscillator's signal line and the price's break above the MACD line may support the pair's growth.

On the four-hour chart, the Marlin oscillator is progressing in a sideways direction. This circumstance is holding back the price's growth. The spring for accelerating the pair's growth is probably compressed on the four-hour chart.