Forecast for GBP/USD on August 12, 2021

GBP/USD

Yesterday, the British pound made its first attempt to overcome the resistance of the MACD line on the daily chart. The trading range was wide, more than 80 points, so the price was limited only to testing this line.

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Today the pound started the Asian session with growth, so there is a good chance that today the MACD line (1.3887) will be overcome. The signal line of the Marlin Oscillator turns up from the lower border of the channel. We anticipate the pound's rise to 1.4069.

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The price is consolidating in front of the balance indicator line on the four-hour chart, Marlin has settled in a growing trend. We are waiting for another upward price surge.

The material has been provided by InstaForex Company - www.instaforex.com

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