Forecast for GBP/USD on September 16, 2021

GBP/USD

Yesterday, the pound went above the balance indicator line on the daily chart. The signal line of the Marlin Oscillator pushed up from the border of the bears' territory, which increases the quality of the price exit above the indicator line. The price will probably no longer make false downward movements on the way to the first target of 1.3950, determined by the nearest embedded line of the price channel of a higher scale. The price exit above opens the second target on the next embedded line in the area of the 1.4080 mark.

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On the four-hour chart, the price stopped at the resistance of the MACD line. The Marlin Oscillator is in a growing position. As the price breaks above yesterday's high of 1.3853, the price will continue to rise towards the designated first target.

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

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