empty
 
 
en
Support
Instant account opening
Trading Platform
Deposit/Withdraw

21.03.202406:00 Forex Analysis & Reviews: Forecast for GBP/USD on March 21, 2024

GBP/USD

Yesterday, the British pound managed to rise 63 pips, breaking through the resistance level at 1.2745 and the MACD line. If the price manages to consolidate above 1.2826, it may rise to the target level of 1.2940. If we don't see a divergence with the oscillator around this level, then the price may aim for the 1.2994-1.3020 range.

Exchange Rates 21.03.2024 analysis

Today, the Bank of England meeting will take place. If two members of the Monetary Policy Committee express their dissent against a rate cut, compared to one at the previous meeting, this may affect the pound's growth, increasing the probability of a technical divergence – the Marlin oscillator will slow down the upward movement.

Exchange Rates 21.03.2024 analysis

On the 4-hour chart, the price has settled above the MACD indicator line. The Marlin oscillator is steadily rising in the uptrend territory. We expect the pair to rise, with the price consolidating above 1.2826. This is the main scenario.

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.

Laurie Bailey,
Analytical expert of InstaSpot
© 2007-2024
Benefit from analysts’ recommendations right now
Top up trading account
Open trading account

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

Can't speak right now?
Ask your question in the chat.