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Technical analysis:

Exchange Rates 13.02.2020 analysis

GBP did spike up to the level of 1.3050 and its heading towards our main upward target from yesterday at the price of 1.3067. My advice is still to watch for buying opportunities on the dips with the main targets at 1.3067 and 1.3162.

You can exit half of the position at the current level and wait even 1.3162.

MACD oscillator is showing big increase in the momentum to the upside, which adds good confirmation to our bullish view.

Resistance levels are set at the price of 1.3067 and 1.3162

Support level is set at the price of 1.2650.

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

Performed by Petar Jacimovic,
Analytical expert
InstaForex Companies Group © 2007-2020
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