empty
 
 
You are about to leave
www.instaforex.eu >
a website operated by
INSTANT TRADING EU LTD
Open Account

15.02.201909:10 Forex Analysis & Reviews: Analysis of the divergence of GBP / USD for February 15. New bullish divergence will allow the pound to rise slightly

Long-term review
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.

4h

Exchange Rates 15.02.2019 analysis

On a 4-hour chart, the GBP / USD currency pair fell to the correctional level of 38.2% - 1.2765, before reaching it quite a bit. A new bullish divergence was formed in the CCI indicator, which allows traders to expect a reversal in favor of the British currency and some growth in the direction of the correction level of 50.0% - 1.2869. Breaking quotes from the Fibo level of 38.2% will increase the likelihood of the pair starting to grow. Closing quotes below the correction level of 38.2% will work in favor of a further fall in the direction of the next Fibo level of 23.6% - 1.2639.

The Fibo grid is built on extremes from September 20, 2018, and January 3, 2019.

1h

Exchange Rates 15.02.2019 analysis

On the hourly chart, the currency pair continues the process of falling and completed closing under the correction level of 76.4% - 1.2799. As a result, on February 15, the process of falling can be continued in the direction of the next Fibo level of 100.0% - 1.2671. In the current chart of emerging divergences, none of the indicators have one. Fixing quotations above the level of 76.4% can be interpreted as a reversal in favor of the currency of England and expect some growth in the direction of the correction level of 61.8% - 1.2878.

The Fibo grid was built on extremes from January 15, 2019, and January 25, 2019.

Recommendations to traders:

Purchases of the GBP / USD pair can be made with the target of 1.2878 and a Stop Loss order below the level of 76.4% if the pair closes above 1.2799 (hourly chart).

Sales of the GBP / USD pair can be made with the target of 1.2671 and a Stop Loss order above the level of 76.4% if the pair closes below the level of 1.2765 (4-hour chart).

Samir Klishi
Analytical expert of InstaForex
© 2007-2024

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.




You are now leaving www.instaforex.eu, a website operated by INSTANT TRADING EU LTD
Can't speak right now?
Ask your question in the chat.

Turn "Do Not Track" off