Forecast for GBP/USD on September 2, 2021

GBP/USD

Yesterday, the British pound tried to rise above the MACD indicator line on the daily chart, but it failed - the resistance was strengthened by the balance line (red). But the bulls also received reinforcement today - the Marlin oscillator has moved into the zone of positive values and is now helping to develop an upward trend.

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Consolidating above the indicator lines (above 1.3780) will mean that the price is ready to continue its growth towards the first target of 1.3858 - the low on April 27, March 2 and other days in the history of the current year. The second target at 1.3895 is the embedded price channel line.

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On the H4 chart, the price is steadily moving above the balance indicator line (red). The MACD line is turning upward, directing the medium-term upward trend. The Marlin oscillator is still at the zero line, in a neutral state. We are waiting for the development of an upward trend.

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

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