For Traders

Analytical Reviews

Technical analysis

04.03.201908:27 Forex Analysis & Reviews: Forecast for GBP/USD on March 4, 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

On Friday, the British pound, which was under pressure, fell by 55 points. The price divergence with the marlin oscillator on the daily scale intensified; on the four-hour chart, the signal line of this indicator penetrated deeper into the zone of decline. It is also noticeable that the line of balance entered the business on a four-hour scale - prices were supported by this particular line. As a result, in order to continue reducing the price, it is necessary to consolidate below Friday's low, which will mean consolidating below the balance line and gaining strength before forming a break at 1.3108, where they are concentrated: the February 20 high (arrow), daily balance line, Krusenstern line on H4. Overcoming this signal level will open the way to a further decline to the target level of 1.2940 - the level of coincidence of the Krusenstern line of the daily chart and the price channel line.

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.