Forecast for GBP/USD on March 5, 2019

GBP/USD

The British pound is gradually approaching important levels, breaking through which may go into a medium-term decline. The first such level is the Krusenstern four-hour scale line - consolidating below the line will provide an opportunity to gain a foothold below the high on February 20, 1.3108, after which the bearish target of 1.2940 is opened - the point of coincidence of the price channel line of the daily TF with the Krusenstern line opens. The signal line of the Marlin oscillator of the daily scale in this case will automatically be in the zone of decline. Consolidating at 1.2940 will make it possible to consider an even lower target of 1.2560 - the downward trend line of the daily scale price channel.

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

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