Forecast for GBP / USD pair on February 28, 2019

GBP / USD pair

On Wednesday, the slight consolidation of the British pound below the level of 1.3257 resulted in growth to our next target level of 1.3314, even with a slight overlap. However, the candlestick bodies are still being consolidated exactly under the price level on the four-hour chart. The current consolidation is seen closer to the turn with the bearish divergence on both daily and four-hour charts which is becoming more pronounced. The price can grow a little more, probably to 1.3362 headed towards the peak level on July 9 last year without disturbing the formation of divergence, but this will be the last spurt in the current technical picture.

The price can turn right now but there will be no signal to open a short position today, possibly tomorrow as well, since the signal level is 1.3108. After overcoming the said level, the signal line of the Marlin oscillator may be in the zone of decline with another 184 points to the signal level. The immediate goal of the decline is 1.2952 which is the nested line in the price channel of the higher timeframe and the tendency of the MACD line of the day-time schedule to position. Also, this level is the maximum of February 13th.



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