[B]Forex Analysis & Reviews: Forecast for GBP/USD on March 29, 2022

The British pound fell 93 points yesterday, having successfully overcome the first target level of 1.3119. The Marlin Oscillator has settled in the downward trend area. The price has chosen a direction and a target at 1.2900. Slightly lower is the second target at 1.2853, which together can be defined as a target range of 1.2853-1.2900 (November 2020 low and December 2019 low).

The price consolidated under the level of 1.3119 and under the MACD line on the four-hour chart. The trend is downward, but at the moment there is a slight correction after yesterday's strong fall. Upon completion of the correction, we expect further decline.

Analysis are provided by InstaForex