Forecast for GBP/USD on Feb 27, 2020



The British pound lost a little over a hundred points on Wednesday, taking the technical conditions for a further decline. The Marlin oscillator on the daily chart is back in the declining trend zone. The immediate target of 1.2842 at the Fibonacci level of 110.0% is open. Below it is the second target at the level of 123.6% at the price of 1.2758.

On a four-hour chart, the price consolidated under the MACD line (blue moving line), Marlin in the zone of negative values. The price continues to fall.


The material has been provided by InstaForex Company –

Source:: Forecast for GBP/USD on February 27, 2020

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