For Traders

Analytical Reviews

Technical analysis

20.02.202006:27 Forex Analysis & Reviews: GBP/USD Intraday Price Movement For Feb 20th, 2020

This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here.

After the Cable had made a Clean High at 1.3069 and continued with a Re-Distribution on the 60-minute Chart/1 Hour Chart, the currency pair proved its weakness. In the other words, there is an institutionally sponsored decline on the 1-hour chart. Under such market conditions, the GBP/USD pair can try again to reach the target at 1.2893, if it does not go up and closes above 1.2950. The Cable is still trying to reach the target at 1.2893.

(Disclaimer)

Back to the list

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.