Forex Analysis & Reviews: Forecast for GBP/USD on August 18, 2021

GBP/USD
The pound lost 100 points yesterday, shifting the market balance towards medium and short-term sales, as the price went under the balance indicator line on the daily chart. The signal line of the Marlin Oscillator has penetrated the zone of negative values, now the 1.3646/70 target is open.

The situation is similar on the four-hour scale chart: the price is below the indicator lines, Marlin is in the negative zone. We are waiting for the correction to be completed and further downward movement of the price.

Analysis are provided by InstaForex