Forex Analysis & Reviews: Forecast for GBP/USD on March 8, 2022

GBP/USD is falling very sharply. It declined by three figures over the past three days, with the price hitting 1.3115 on Monday. A further drop will bring the pair to 1.2853-1.2900, which are the November 2020 and December 2019 lows. A rebound seems impossible at the moment because yesterday's trading volumes were close to the yearly high, which is a clear signal for medium-term sell-offs.

The Marlin oscillator also formed a convergence in the four-hour chart, so it is likely that many traders will take a break today and then continue their efforts for a deeper decline.

Analysis are provided by InstaForex