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05.03.202406:44 Forex Analysis & Reviews: Forecast for GBP/USD on March 5, 2024

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GBP/USD

Yesterday, the British pound was determined, and it broke through the important technical resistance of the MACD line. At the moment, the daily candle is white. If it changes color, and the quote ends up below the MACD line, this will affect the pair's potential to rise.

If it closes today with a black candle, then in the near future, the price may test the support at 1.2610. A consolidation below this mark may push the pair to fall to 1.2524. But for now, the price has the desire to reach the upper boundary of the winter range at 1.2610-1.2745.

On the 4-hour chart, the price is rising above both indicator lines, and the Marlin oscillator is in a position to rise. The uptrend has the advantage.

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