FX.co ★ Forecast for GBP/USD on February 28, 2024

GBP/USD

Pound seems to have the intention to fall further below the MACD line. Meanwhile, the signal line of the Marlin oscillator indicates the beginning of a downturn.

If the price surpasses yesterday's low of 1.2659, the pair will cross the support of the MACD line and head toward 1.2610. Falling below it will bring pound to 1.2524.

On the four-hour chart, the signal line of the Marlin oscillator exited its range, falling below zero. This strengthens the development of a bearish scenario.

It will happen once the price declines below yesterday's low of 1.2659. However, resistance will be met around the MACD line at 1.2640.