empty
 
 

05.02.202006:27 Ανάλυση και κριτικές Forex: Forecast for GBP/USD on February 5, 2020

GBP/USD

Yesterday, the British pound traded in the range of 106 points, eventually closing the day with an increase of 33 points. On the daily scale chart, the lower shadow price punctured the target level - a strong support of 1.2968. This is a sign of another impending attack on this support. Indicator readings confirm this intention of the price: on the daily chart, the price is confidently held under the indicator lines, and the Marlin oscillator is in the negative trend zone.

Exchange Rates 05.02.2020 analysis

On the four-hour chart, the price is held by the red balance indicator line - the trend remains downward. The Marlin oscillator is also in a downward trend.

Exchange Rates 05.02.2020 analysis

So, the nearest and most important task of the price now is to fix it below the level of 1.2968. After that, the road will open to the second target of 1.2820 on the Fibonacci level of 138.2% on the daily scale chart.

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.

Laurie Bailey,
Αναλυτικός εμπειρογνώμονας της InstaForex
© 2007-2022
Benefit from analysts’ recommendations right now
Top up trading account
Open trading account

InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.




  • 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
  • Ferrari from InstaForex
    Top up your account with at least $1,000
    join the contest and win Ferrari
    F8 Tributo
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and win $1,000
    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
Can't speak right now?
Ask your question in the chat.