FX.co ★ Forecast for GBP/USD on August 22, 2024

Yesterday, the British pound successfully surpassed the target level of 1.3080, resolving the potential divergence with the oscillator. As a result, the likelihood of sustained growth to 1.3160 or higher, towards the upper boundary of the price channel, has increased. The Marlin oscillator is not overheated yet and does not hinder price growth.

In the 4-hour chart, the divergence also did not solidify; instead, the trajectory of the line transformed into a broad sideways movement in the positive territory. The price has consolidated above the 1.3080 level.

Due to its own consolidation, the Marlin oscillator is at a neutral, comfortable level. Considering the current strong growth, maintaining this trend appears to be the preferred scenario.