Forecast for GBP/USD on February 27, 2019


On Tuesday, the British pound added 156 points, reaching the target level of 1.3257. Today in the Asian session, the price is consolidating below this level. If consolidation will be delayed a little bit, then another jolt of the price upwards is possible, to the level of 1.3314 - the high on June 22, 2018, but it is unlikely that this level will be overcome, as both the daily and four-hour charts are already forming bearish convergence with the Marlin oscillator.



The full formation of convergence will take place after the departure of the Marlin signal line below the border with the territory of bears (below zero) on the four-hour chart, this pattern will be ready approximately after the price leaves at the signal level 1.1308 - the high of February 20. Leaving the price below the level opens the target of 1.2952 - support for the daily price channel line, to which the Krusenstern line aspires, also 1.2952 - this is the high on February 13.

The material has been provided by InstaForex Company -