27.08.202409:24 Forex Analysis & Reviews: Forecast for GBP/USD on August 27, 2024

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The British pound stalled at the level of 1.3220, which it reached on Friday. This could signal the end of the upward trend, but confirmation would come from going below the lower boundary of the target range, 1.3095-1.3120. If this is not the end of the rise, further movement will require overcoming Friday's high (1.3229), preferably with consolidation above the level of 1.3220.

The next target would be the resistance level of 1.3300. However, the price does not show any intention to move in any direction. The Marlin oscillator is currently easing and is not providing much information.

In the 4-hour chart, the Marlin oscillator's signal line has moved down from its range, the first sign of the price's intention to develop a downward movement.

A confirming sign of this intention would be Marlin moving into negative territory. The main events will unfold within the 1.3095-1.3120 range, which the MACD line is trying to strengthen.

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