empty
 
 
27.02.2019 08:51 AM
Forecast for GBP/USD on February 27, 2019

GBP/USD

On Tuesday, the British pound added 156 points, reaching the target level of 1.3257. Today in the Asian session, the price is consolidating below this level. If consolidation will be delayed a little bit, then another jolt of the price upwards is possible, to the level of 1.3314 - the high on June 22, 2018, but it is unlikely that this level will be overcome, as both the daily and four-hour charts are already forming bearish convergence with the Marlin oscillator.

This image is no longer relevant

This image is no longer relevant

The full formation of convergence will take place after the departure of the Marlin signal line below the border with the territory of bears (below zero) on the four-hour chart, this pattern will be ready approximately after the price leaves at the signal level 1.1308 - the high of February 20. Leaving the price below the level opens the target of 1.2952 - support for the daily price channel line, to which the Krusenstern line aspires, also 1.2952 - this is the high on February 13.

Laurie Bailey,
Analytical expert of InstaForex
© 2007-2024
Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $9000 more!
    In May we raffle $9000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 100% Bonus
    Your unique opportunity to get a 100% bonus on your deposit
    GET BONUS
  • 55% Bonus
    Apply for a 55% bonus on your every deposit
    GET BONUS
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS

Recommended Stories

Can't speak right now?
Ask your question in the chat.
Widget callback