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FX.co ★ Forecast for GBP/USD on February 14, 2024

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Forex Analysis

2024-02-14T04:23:38
iconRelevance until2024-02-15

Forecast for GBP/USD on February 14, 2024

GBP/USD

On Tuesday, after a short-term breakthrough of the resistance on the daily timeframe's balance indicator line, the price fell sharply, breaking through the support of the MACD line and the target level of 1.2610.

Forecast for GBP/USD on February 14, 2024

The Marlin oscillator is turning down without leaving the downtrend area. The pound will likely reach the target level of 1.2524. Overcoming the first target will open the second one at 1.2373 - the low of November 16, 2023.

Forecast for GBP/USD on February 14, 2024

On the 4-hour chart, the price has settled below the balance and MACD indicator lines, below the target level of 1.2610. The previous price surge was clearly a false signal. We are waiting for progress on the downtrend.

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade
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