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16.08.202105:59 Forex Analysis & Reviews: Forecast for GBP/USD on August 16, 2021

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GBP/USD

The pound's growth on Friday covered the decline from Thursday (12.08) and it paused by the MACD line on the daily chart. If the price rises above this line, then the pound will continue to grow to the target level of 1.4069. The Marlin Oscillator turned in the direction of growth.

Let's clarify the situation on the four-hour chart. In order for the price to rise even further, it will not be enough to just go above the Friday high, that is, above the MACD line in the afternoon.

Moving above the MACD line of the four-hour scale, above the level of 1.3894, fully opens the way to the designated target of 1.4069. The 1.3894 level corresponds to the August 9th high.

The Marlin Oscillator has entered the growth zone and the price is above the balance indicator line. We are waiting for the development of an upward trend.

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