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15.05.2025 04:40 AM
GBP/USD Forecast for May 15, 2025

The British pound struggles to break above the 1.3311 resistance level with a daily candle close. In the current context, this level aligns with the zero (neutral) line of the daily Marlin oscillator.

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Interestingly, the signal line of the oscillator has formed an inverted "head and shoulders" chart pattern (highlighted by the gray rectangle). As a result, we expect a breakout above the 1.3311 level, followed by a rapid rally toward the target of 1.3530 — the upper boundary of the ascending price channel.

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On the H4 chart, the price is attempting to return above the MACD line. A firm close above it would ensure a breakout above the 1.3311 resistance level. Also worth noting is the oscillator's reversal from the zero line and the price's rebound from the early-May support level at 1.3257.

Laurie Bailey,
Analytical expert of InstaForex
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