24.03.202206:02 Forex Analysis & Reviews: Forecast for GBP/USD on March 24, 2022

This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here.

Yesterday, the pound showed a double sign of a downward trend reversal (that is, the completion of an upward correction from the 15th): a false exit above the level of 1.3270 (the level was pierced by the upper shadow of the daily candle), a decline under the target level of 1.3210, opening a new target level of 1.3110 . The false exit of the signal line of the Marlin Oscillator into the growth zone (marked with an arrow) formed an independent signal of a downward trend shift. Now Marlin is in the negative area - this is a promising (leading) condition for a price decrease.

On the working chart of H4, the divergence that was planned yesterday worked out in full force - the price showed a pronounced fall, the Marlin Oscillator settled in the bears' territory. We are waiting for the price at the target level of 1.3110. Since the MACD line is approaching this level, there is likely to be a strong struggle to establish a medium-term trend.

Back to the list

Open trading account

InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.