13.02.202407:16 Forex Analysis & Reviews: Forecast for GBP/USD on February 13, 2024

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GBP/USD

Yesterday, the British pound closed at Friday's closing level. Visually, the price continues to consolidate above the level of 1.2610 and above the MACD line on the daily chart. The Marlin oscillator is still in the bearish territory, increasing uncertainty.

In this case, time is on the pound's side – if the price can hold off the decline for two days, Marlin will have time to rise above the zero line and help the price break away from the support levels. If the price consolidates below the level of 1.2610, which automatically means consolidation below the MACD line, the price could reach the target support of 1.2524. If the pair falls further, the price can reach the target of 1.2373.

On the 4-hour chart, the price is also on the MACD indicator line. Marlin is consolidating above the zero line. There is a 55% chance of developing a bearish scenario.

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