Forecast for GBP/USD on August 23, 2021

GBP/USD

Last Friday, the pound reached the round mark of 1.3600 and reversed upward from it, and this morning this growth continued with a reversal of the Marlin oscillator. A breakthrough above 1.3670 opens the target at 1.3747 near the July 8 low. But the trend is downward, so it is advisable to treat growth with caution. The price move below 1.3600 opens the bearish target at 1.3538.

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The Marlin Oscillator is growing almost vertically upward on the four-hour chart. This is a sign of an imminent price exit above the nearest level of 1.3670, but at the same time, such a rapid growth of the oscillator may have the opposite effect, in which further price growth will not be enough to the target level 1.3747, that is, the MACD line on H4 may not be reached. The current situation is not determined, we are waiting for the development of events.

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

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