For Traders

Analytical Reviews

Technical analysis

22.02.201908:38 Forex Analysis & Reviews: Forecast for GBP/USD on February 22, 2019

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.

GBP/USD

Theresa May cannot advance in Brexit negotiations. In the British Parliament, dissatisfaction is increasing, and Parliament already agrees to postpone the Brexit date. Yesterday, the pound sterling fell slightly by 11 points. On both of the graphs, daily and H4, the Marlin oscillator signal line simultaneously approached the border with the decline zone. A synchronous signal indicator will strengthen the negative dynamics. On the daily chart, the price consolidates below the Fibonacci level of 61.8%, which increases the likelihood of a decrease in the pound.

The first target level is to support the daily price channel line - 1.2967, followed by a Fibonacci level of 23.6%, which coincides with the Krusenstern line. Leaving the price below starts the mid-term decrease of the British pound. This is currently the main scenario. In the event of optimistic news on the negotiations, the pound may rise to 1.3174 - the high on November 7 of last year.

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.