Forecast for GBP/USD on March 1, 2019

GBP/USD

On Thursday, the British pound slowly traded in the range of 1.3257-1.3314, which aggressively entered the 27th. Trading volumes were above average, which may indicate the closure of speculative purchases. Bearish divergences on the daily and H4 charts are increasing, on H4, the Marlin indicator signal line is already being introduced into the decline zone. With a further price reduction, around the level of 1.3108 (February 20 maximum), it can meet with the Krusenstern four-hour scale line. Overcoming support will be a fulfilled condition for further reduction to the support of the price channel line in the 1.2945 area. The Kruzenshtern daytime line also tends to this level. Trading volumes were above average, which may indicate the closure of speculative purchases. Bearish divergences on the daily and H4 charts are increasing, on H4, the Marlin indicator signal line is already being introduced into the decline zone. With a further price reduction, around the level of 1.3108 (the peak on February 20), it can meet with the Krusenstern four-hour scale line. Overcoming support will be a fulfilled condition for further reduction to the support of the price channel line in the area of 1.2945. This level is also sought by the Krusenstern line of the day time.

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The material has been provided by InstaForex Company - www.instaforex.com

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