23.03.202304:56 Forex Analysis & Reviews: Forecast for GBP/USD on March 23, 2023

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, on the 1D chart, the candlestick pierced the MACD indicator line upwards. This morning, the price is trying to climb above the resistance and consolidate above it.

If it closes the day below the MACD line, below yesterday's closing level (1.2265), the bulls' forces will weaken, and the price can go back to 1.2155.

Settling above the MACD line will encourage the bulls, and they can push the price to the target level of 1.2420.

On the four-hour chart, the price has already moved above 1.2265. The Marlin oscillator has consolidated in the ascending trend area, reinforcing the price's growth. The main scenario is that the price will rise to 1.2420.

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.